SBA Announces Disaster Assistance Loan Program

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Updated March 23, 2020

All US States are now eligible for SBA disaster loans.

Updated March 20, 2020:

States currently eligible for SBA disaster loans

Arizona, California Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Illinois, Indiana, Louisiana, Maine, Maryland, Massachusetts, Michigan, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Utah, Virginia, Washington, West Virginia

In Addition, the Following Kentucky Counties are also listed as eligible:

KENTUCKY Contiguous Counties due to Illinois
Ballard, Crittenden, Livingston, Mccracken, Union

KENTUCKY Contiguous Counties due to Indiana
Boone, Breckinridge, Carroll, Daviess, Gallatin, Hancock, Hardin, Henderson, Jefferson, Meade, Oldham, Trimble, Union

KENTUCKY Contiguous Counties due to Ohio
Boone, Boyd, Bracken, Campbell, Greenup, Kenton, Lewis, Mason, Pendleton

KENTUCKY Contiguous Counties due to Virginia
Boyd, Lawrence, Martin, Pike

KENTUCKY Contiguous Counties due to West Virginia
Boyd, Lawrence, Martin, Pike

Original post:

On March 12th the U.S. Small Business Administration announced that it will provide disaster assistance loans for small businesses affected by the coronavirus outbreak in designated states and territories. Jovita Carranza, SBA Administrator, stated in a press release that the SBA “will work directly with state governors to provide targeted, low-interest disaster recovery loans to small businesses that have been severely impacted by the situation.” The SBA’s Economic Injury Disaster Loans would offer up to $2 million in assistance through low-interest loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).

According to the SBA statement: “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 interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.”

For more information, read the full article or contact Kyle Wininger, CPA, CICA, CVA, CFE at
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