The U.S. Small Business Administration is offering Federal disaster loans to provide working capital to small businesses suffering substantial economic injury as a result of COVID-19.
The loans will be approved for amounts up to $2,000,000, with a maximum unsecured amount of $25,000. The loan amount will be decided by the loan officer after reviewing all requested information. A 12-month deferment period will apply with interest accruing during this period.
For more information and to apply online, go to https://disasterloan.sba.gov/ela.