Small Biz Florida - Ep. 9 - Special COVID-19 Episode-SBA Economic Injury Disaster Loan Program
The U.S. Small Business Administration (SBA) announced that small businesses located in the State of Florida adversely impacted by COVID-19 can now apply for disaster loans. For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA is offering Economic Injury Disaster Loans to help meet working capital needs caused by the Coronavirus.SBA Economic Injury Disaster Loans offer up to $2 million in economic assistance to help small businesses overcome the temporary loss of revenue resulting from the disaster. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster's impact.Small Biz Florida host Tom Kindred speaks with Victoria Guerrero, District Director for the U.S. Small Business Administration (SBA) South Florida District. Victoria discussed details regarding the SBA Economic Injury Disaster Loan program: eligibility requirements, how and where to apply loan terms, etc.
Duration: 26 min