WASHINGTON D.C. — SBA Administrator Jovita Carranza issued the following statement today in response to the President’s Declaration of a National Emergency:
“The President’s decision to declare a national emergency represents another significant and very important step in reducing barriers to public health and protecting America’s 30 million small businesses from the threat posed by Coronavirus (COVID-19)."
"The President’s declaration, coupled with the Administration’s unprecedented efforts to mobilize and involve the full force of the federal government and the private sector — including leaders in science, medicine, transportation, finance and business — will help save lives and reduce economic disruptions in every community."
"The SBA is strongly committed to providing the most effective and customer-focused response possible to support small businesses that have incurred substantial economic loss as a result of the outbreak."
"The Agency is working closely with Governors to make up to $2 million in targeted, low-interest disaster recovery loans available to any small business enterprise that has been severely impacted by the situation.”
SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance for a small business. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
SBA’s Economic Injury Disaster Loans can be used to cover payroll, cover inventory, pay debt, or other expenses. Visit www.SBA.gov/coronavirus for more information on SBA’s assistance to small businesses.