All Businesses:
We know that the impacts of the virus are significant and we want to pass on the recent announcement that the SBA has administratively declared the entire state of Nevada an economic disaster zone.
This means that businesses impacted by the COVID-19 crisis are eligible for low interest SBA loans, directly from the Federal Government and not through a bank or other lending institution. This loan is to mitigate the impacts of the crisis including rent and operations and will help our businesses weather this storm.
SBA's Economic Injury Disaster Loans offer up to $2 million in assistance per small business and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. These 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%. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years.
Be patient with the website as many businesses are in the process of taking advantage of this federal assistance.
Take advantage of this now and forward it to any business that may need help in dealing with this crisis.
EDAWN
