Small Business Administration to provide disaster assistance loans to small businesses impacted by coronavirus

(MGN/ Small Business Administration)

WASHINGTON (KTVF) The U.S. Small Business Administration (SBA) announced Thursday that they will be providing disaster assistance loans to small businesses impacted by the coronavirus. The loans offer up to $2 million in assistance.

According to a press release from the SBA, the low-interest loans will be provided to help pay debts, payroll, accounts payable and other bills that can't be paid because of the virus.

The interest rates are 3.75% for small businesses and 2.75% for non-profits.

SBA Administrator Jovita Carranza said in the release, “Our Agency will work directly with state Governors to provide targeted, low-interest disaster recovery loans to small businesses that have been severely impacted by the situation.

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