BUSINESSES IMPACTED BY COVID-19 NOW ELIGIBLE FOR SBA DISASTER AIDBy SPECIAL TO THE SUN-SENTINEL,
PEARL — Gov. Tate Reeves’s request for an Economic Disaster Declaration by the U.S. Small Business Administration was approved on Friday, March 20, 2020.
The entire state of Mississippi has just been declared a disaster for COVID-19 by SBA Administrator Carranza, which now opens up disaster loan assistance for small businesses and eligible non-profits for economic injury relief.
All Mississippi businesses and non-profits that are severely impacted by the Coronavirus (COVID-19) pandemic are eligible to apply for low-interest federal disaster loans. These businesses can apply for up to $2 million in working capital that can provide vital economic support to help overcome the temporary loss of revenue they are experiencing as a result of the COVID-19 pandemic.
Small business owners can begin the process immediately and apply for assistance by visiting this link: sba.gov/disaster
Additionally, the SBA offers a three-step process for disaster loans, which is explained further here: disasterloan.sba.gov/ela/Documents/Three_Step_Process_SBA_Disaster_Loans.pdf