The Small Business Administration (SBA) has implemented an Economic Injury Disaster Loan program.
The program provides low or no interest loans up to $2MM for working capital needs or normal business operating expenses through the recovery period. The business needs to be in a designated disaster area like Pennsylvania. It applies to all entity types including sole proprietorships.
Use this link to the SBA for information on COVID-19 related resources including applications that can be made via the website or through the mail.
An entity other than sole proprietorship needs to complete a Disaster Business Loan Application (SBA Form 5). Again, it can be completed through the website using a different form than for sole proprietorships.
Additional requirements are:
For additional information contact Steve Bovan.
March 25, 2020
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