The U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for working capital to California small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).
The disaster declaration makes these Economic Injury Disaster Loans available in many California counties, including Santa Cruz. Loan amounts of up to $2 million will be offered to alleviate damages caused by the disaster to help meet financial obligations and operating expenses.
Small businesses, small agricultural cooperatives, small aquaculture businesses and most private, non-profit organizations may be eligible for a long term loan of up to 30 years to make payments affordable.
The deadline to apply for an Economic Injury Disaster Loan is Dec. 16, 2020.
For more information about Coronavirus, please visit: Coronavirus.gov.
Check your eligibility and apply at https://disasterloan.sba.gov/ela
Learn more at https://www.californiasbdc.org/covid19-assistance