TOPEKA, Kan. (WIBW/KWCH) Governor Laura Kelly announced Friday that under the state’s disaster declaration, Kansas is expected to receive disaster assistance loans for small businesses impacted by the COVID-19.
Through the Small Business Administration, loans of up to $2 million would be made available to small businesses in need of assistance.
The disaster declaration extends to all 105 Kansas counties, making low-interest federal disaster loans for working capital available for small businesses across the state.
The first one she announced was a small disaster loan program, a program that puts money into a fund through the SBA.
The second program she announced was a rapid loan program. This program is to streamline the process for local businesses to get community funds. It changes the wait time from 30 days to 24 hours. Local communities will be able to vote to allow.
The third program she announced was the Hospitality Industry Emergency Relief Fund (HIRE). This fund is a relief program that will give businesses a bridge loan with a max limit of $20,000. The fund is backed by $5 million from the governor. For more information on the Hospitality Industry Relief Emergency fund, visit kansascommerce.gov/HIREfund.
Loan decisions will made within 72 hours of the time an application is submitted, and businesses will receive funds within 48 hours (or the next business day) of an application being approved. The program is administered by NetWork Kansas, a non-profit with a system of small business loan underwriters across 64 Kansas counties.
“As Kansans practice social distancing, our restaurants, bars and other event centers will see a decrease in patrons. These loans can be used to help keep Kansas small businesses afloat when they can’t obtain credit elsewhere,” Kelly said. “During this turbulent time, our affected small business owners need support.”
Governor Kelly also announced a new extended limit for Kansans to receive unemployment from 16 weeks to 26 weeks.
“We are doing everything we can to support Kansas workers and employers,” García said. “As we navigate these unprecedented times, know the Kansas Department of Labor is here for you – and we are ready to support our fellow Kansans.”
The website for people to go apply is www.getkansasbenefits.gov.
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March 20, 2020 at 11:08PM
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Small businesses impacted by COVID-19 can apply for disaster assistance - KWCH
"assistance" - Google News
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