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SBA Loan Announcement

Last Updated Thursday, April 30th, 4:16pm

MORE MONEY AVAILABLE: GOVERNMENT LOANS YOU UP TO $2 MILLION AND $10,000 GRANTS AVAILABLE TO HELP YOUR BUSINESS OR NONPROFIT

Disaster loan program ADDED $60 billion to distribute on first-come, first-served basis

What is it?

U.S. Small Business Administration (SBA) Economic Injury Disaster Loan and Grant

Low interest loans of up to 30 years that you might not have to start repaying for one year

Applicants who are declined for a loan may receive a $10,000 grant that does not have to be paid back

Who's eligible?

Businesses and nonprofits with 500 or fewer employees

How do you get it?

Apply on the SBA website: https://covid19relief.sba.gov/

What can I use the money for?

  • Mortgage payments or rent
  • Payroll costs
  • Higher cost of materials
  • Utility payments
  • Other things the SBA approves

Want more information or advise?

See localized versions:

Learn more about about other COVID-19 benefits and updates on ACCESS NYC.

Last Updated Thursday, April 30th, 4:16pm

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