U.S. Small Business Administration Announces Economic Assistance for Small Businesses

On Thursday, March 12, 2020 the U.S. Small Business Administration announced that they will provide disaster assistance loans for small business impacted by the coronavirus (COVID-19).

These low-interest federal disaster loans of working capital will be offered to small businesses that are suffering substantial economic downturn during these trying times brought on by the coronavirus. Small business can receive up to $2 million in vital economic support in an attempt to help them overcome the temporary revenue loss they are currently experiencing.

If you have any questions navigating this process please contact Busch Mills & Slomka, LLP and we can assist with expediting the process

Important Note: Please be advised that when applying for these loans applicants need to select Economic Injury Loan (EIDL) Option in order to proceed with applying for an EIDL for the Coronavirus situation.  If the wrong option is selected, an applicant does not need to re-register but they will need to start the application process again.