Description
- Low interest, fixed rate loans of up to $2 Million, with a period of up to 30 years.
- 3.75% Interest for small businesses and 2.75% interest for non-profits.
- Businesses up to 500 are eligible, along with private non-profits, tribal businesses, independent contractors, and sole proprietors.
- An initial $10,000 may be requested to be immediately disbursed and need not be repaid.
- A loan amount cannot be requested, but it will be calculated by the SBA for you, based on your information.
- Funds from the loan can be used to maintain payroll, pay rent or mortgage, and be used to repay unmet obligations. The loans are not intended for business expansions.
- More information: https://www.sba.gov/funding-programs/disaster-assistance
