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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