October 5, 2020

SBA Still Taking Applications For COVID Disaster Loans

The U.S. Small Business Administration (SBA) is continuing to accept, process, approve, and distribute new COVID-19 Economic Injury Disaster Loans. As of the end of September, the SBA has approved 3.6 million loans for more than $190 billion.

The application period is open through December 2020, though businesses are encouraged to apply as early as possible because the program has limited funds.

Businesses can submit an application without formally accepting a loan or scheduling disbursement, which is why SBA encourages them to submit an application in advance for safe measure. Click here for more information about these loans.

SBA has information about additional assistance programs at www.sba.gov/disaster related to other natural disasters.