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Posted on: March 20, 2020

Small Business Administration Economic Injury Disaster Loan Program

SBA Loans

SBA Encourages Loan Applications

All of Georgia is now eligible to apply for Small Business Administration (SBA) direct disaster loans up to $2.0 million at rates of 3.75% for terms up to 30 years. Economic injury loans under their disaster program typically cover lost revenues as a result of the disaster.

The SBA is aggressively pushing these loans and strongly encouraging all eligible business to apply online. SBA anticipates a two-three-week approval period by loan officers. Loans under $25,000 will not require collateral. Please note, these types of businesses are specifically restricted from applying: agricultural enterprises, religious organizations, and gambling, every other small business type should be eligible. Click here to visit the application website.

Additional information can be found:

1. Online: https://disasterloan.sba.gov/ela
2. Call SBA’s Customer Service Center at (800) 659-2955
3. Email disastercustomerservice@sba.gov

 

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