The SBA provides targeted, low-interest loans to small businesses and non-profits that have been severely impacted by the Coronavirus (COVID-19). The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. Loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%. Loans have long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay. For additional information, please contact the SBA Disaster Assistance Customer Service Center: 1-800-659-2955 (TTY: 1-800-877-8339) or [email protected].
The U.S. Small Business Administration South Florida District Office will host virtual office hours to answer questions about the SBA Economic Injury Disaster Loan Program. In addition to the virtual office hours, the District Office will also be hosting webinars twice daily to help small businesses navigate the disaster loan application.
Virtual Office Hours:
Monday, March 23 – Friday, April 04
11:00 a.m. – 1:00 p.m.
3:00 p.m. – 5:00 p.m.
• Limited to 250 callers at one time.
• Participants may call at anytime and are welcome to enter and exit at will.
• Callers will be muted upon entry and will be taken in the order they are received.
How to Participate:
Join by phone
(202) 765-1264; Conference ID – 162817288