SBA Economic Injury Disaster Loans for Pinellas businesses impacted by COVID-19

SBA Economic Injury Disaster Loans for

Pinellas small businesses impacted by COVID-19

https://disasterloan.sba.gov/ela/

P INELLAS COUNTY, FL (March 19, 2020)

The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to Florida small businesses suffering substantial economic injury as a result of COVID-19.

SBA 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 working capital loans are intended to assist small businesses in meeting their financial obligations through the disaster recovery period.
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 application is available online at https://disasterloan.sba.gov/ela
The interest rate for businesses is 3.75% with loan terms up to 30 years.

SBA offers loans with long-term repayments to keep payments affordable for businesses without the financial ability to weather the adverse impacts of COVID-19.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela . The Applicants may also call SBA's Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call (800) 877-8339. The deadline to apply for an Economic Injury Disaster Loan is Dec. 18, 2020. Disaster declaration details are at: https://disasterloan.sba.gov/ela/Declarations/DeclarationDetails?declNumber=6063372 For more information about available SBA resources and services, please visit: www.SBA.gov/coronavirus .

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Pinellas businesses can also apply for a Florida Small Business Emergency Bridge Loan. These short-term, interest-free working capital loans are intended to "bridge the gap" between the time a major catastrophe hits and when a business has secured longer term recovery resources, such as sufficient profits from a revived business, receipt of payments on insurance claims or federal disaster assistance. The application period runs through May 8, 2020.

The application form and additional details can be found at http://www.FloridaDisasterLoan.org
Please visit http://www.pced.org/disaster for details.

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Businesses located in Pinellas County can visit www.pced.org/SBDChelp to complete the appointment form. Our staff at the Florida SBDC at Pinellas County Economic Development will then email or phone to help you with your application(s) for assistance. Please do not visit the FSBDC at Pinellas County Economic Development. In accordance with the Center for Disease Control's best practices for containing COVID-19, we will assist our small business clients by phone or email only.

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Additional resources for businesses impacted by COVID-19.

SBA Economic Injury Disaster Loans: https://disasterloan.sba.gov/ela
SBA's Customer Service Center at (800) 659-2955
Florida Small Business Emergency Bridge Loans: http://www.FloridaDisasterLoan.org
Pinellas County businesses report economic impact/damages at: www.PCED.org/damage
SBA Economic Injury Disaster Loans: https://disasterloan.sba.gov/ela
Pinellas County Economic Development: www.pced.org/disaster
Help from FSBDC @ PCED with your loan application: www.pced.org/SBDChelp
FloridaSBDC: http://floridasbdc.org/services/business-continuation
Pinellas County Government COVID-19: http://pinellascounty.org/emergency/covid19
Florida Chamber of Commerce: https://www.flchamber.com/follow-facts-not-fear

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About Pinellas County Economic Development: Pinellas County Economic Development (PCED) works with existing businesses to encourage expansion and seeks to attract new companies with high-wage careers to our community. Through investment tools, business classes, professional consulting services, trade missions to open new markets, and strategic partnerships, PCED fosters a pro-business environment and promotes the ideal business climate of Pinellas County, Florida. Learn more at www.PCED.org and find customized business consulting to grow your company at www.PCED.org/sbdc .