Help us help small businesses. Become a small business champion. Learn more

Note: Story updated March 18 with new information.

U.S. Small Business Administration Administrator Jovita Carranza issued revised criteria for states or territories seeking an economic injury declaration related to Coronavirus (COVID-19).

The relaxed criteria will have two immediate impacts:

  • Faster, Easier Qualification Process for States Seeking SBA Disaster Assistance. Historically, the SBA has required that any state or territory impacted by disaster provide documentation certifying that at least five small businesses have suffered substantial economic injury as a result of a disaster, with at least one business located in each declared county/parish. Under the just-released, revised criteria, states or territories are only required to certify that at least five small businesses within the state/territory have suffered substantial economic injury, regardless of where those businesses are located.
  • Expanded, Statewide Access to SBA Disaster Assistance Loans for Small Businesses. SBA disaster assistance loans are typically only available to small businesses within counties identified as disaster areas by a Governor. Under the revised criteria issued today, disaster assistance loans will be available statewide following an economic injury declaration. This will apply to current and future disaster assistance declarations related to Coronavirus.

SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance for each affected small business. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

Loans can be used to pay debts, payroll, and more

These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.

SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.

For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail [email protected].

[gravityform id="37" title="false" description="false" ajax="true"]
<div class='gf_browser_unknown gform_wrapper' id='gform_wrapper_37' ><div id='gf_37' class='gform_anchor' tabindex='-1'></div><form method='post' enctype='multipart/form-data' target='gform_ajax_frame_37' id='gform_37' action='/blog/sba-to-provide-disaster-assistance-loans-for-small-businesses/#gf_37'> <div class='gform_body'><ul id='gform_fields_37' class='gform_fields top_label form_sublabel_below description_below'><li id='field_37_1' class='gfield gf_left_half gfield_contains_required field_sublabel_below field_description_below hidden_label gfield_visibility_visible' ><label class='gfield_label' for='input_37_1' >First Name<span class='gfield_required'>*</span></label><div class='ginput_container ginput_container_text'><input name='input_1' id='input_37_1' type='text' value='' class='medium' placeholder='First Name*' aria-required="true" aria-invalid="false" /></div></li><li id='field_37_2' class='gfield gf_right_half gfield_contains_required field_sublabel_below field_description_below hidden_label gfield_visibility_visible' ><label class='gfield_label' for='input_37_2' >Last Name<span class='gfield_required'>*</span></label><div class='ginput_container ginput_container_text'><input name='input_2' id='input_37_2' type='text' value='' class='medium' placeholder='Last Name*' aria-required="true" aria-invalid="false" /></div></li><li id='field_37_3' class='gfield gfield_contains_required field_sublabel_below field_description_below hidden_label gfield_visibility_visible' ><label class='gfield_label' for='input_37_3' >Email<span class='gfield_required'>*</span></label><div class='ginput_container ginput_container_email'> <input name='input_3' id='input_37_3' type='email' value='' class='medium' placeholder='Email*' aria-required="true" aria-invalid="false" /> </div></li><li id='field_37_9' class='gfield field_sublabel_below field_description_below hidden_label gfield_visibility_visible' ><label class='gfield_label' for='input_37_9' >Phone</label><div class='ginput_container ginput_container_phone'><input name='input_9' id='input_37_9' type='tel' value='' class='medium' placeholder='Phone Number' aria-invalid="false" /></div></li><li id='field_37_4' class='gfield gfield_contains_required field_sublabel_below field_description_below hidden_label gfield_visibility_visible' ><label class='gfield_label' for='input_37_4' >Business Name<span class='gfield_required'>*</span></label><div class='ginput_container ginput_container_text'><input name='input_4' id='input_37_4' type='text' value='' class='medium' placeholder='Business Name*' aria-required="true" aria-invalid="false" /></div></li><li id='field_37_7' class='gfield gform_hidden field_sublabel_below field_description_below gfield_visibility_visible' ><input name='input_7' id='input_37_7' type='hidden' class='gform_hidden' aria-invalid="false" value='Gravity Website' /></li><li id='field_37_8' class='gfield gform_hidden field_sublabel_below field_description_below gfield_visibility_visible' ><input name='input_8' id='input_37_8' type='hidden' class='gform_hidden' aria-invalid="false" value='' /></li><li id='field_37_13' class='gfield gform_hidden field_sublabel_below field_description_below gfield_visibility_visible' ><input name='input_13' id='input_37_13' type='hidden' class='gform_hidden' aria-invalid="false" value='' /></li><li id='field_37_12' class='gfield gform_hidden field_sublabel_below field_description_below gfield_visibility_visible' ><input name='input_12' id='input_37_12' type='hidden' class='gform_hidden' aria-invalid="false" value='' /></li><li id='field_37_11' class='gfield gform_hidden field_sublabel_below field_description_below gfield_visibility_visible' ><input name='input_11' id='input_37_11' type='hidden' class='gform_hidden' aria-invalid="false" value='' /></li><li id='field_37_10' class='gfield gform_hidden field_sublabel_below field_description_below gfield_visibility_visible' ><input name='input_10' id='input_37_10' type='hidden' class='gform_hidden' aria-invalid="false" value='' /></li><li id='field_37_14' class='gfield mixpanel-id field_sublabel_below field_description_below gfield_visibility_hidden' ><label class='gfield_label' for='input_37_14' >Mixpanel ID</label><div class='ginput_container ginput_container_text'><input name='input_14' id='input_37_14' type='text' value='' class='medium' aria-invalid="false" /></div></li><li id='field_37_15' class='gfield gf-post-slug field_sublabel_below field_description_below gfield_visibility_hidden' ><label class='gfield_label' for='input_37_15' >Post Slug (js)</label><div class='ginput_container ginput_container_text'><input name='input_15' id='input_37_15' type='text' value='' class='medium' aria-invalid="false" /></div></li> </ul></div> <div class='gform_footer top_label'> <input type='submit' id='gform_submit_button_37' class='gform_button button' value='Submit' onclick='if(window["gf_submitting_37"]){return false;} if( !jQuery("#gform_37")[0].checkValidity || jQuery("#gform_37")[0].checkValidity()){window["gf_submitting_37"]=true;} ' onkeypress='if( event.keyCode == 13 ){ if(window["gf_submitting_37"]){return false;} if( !jQuery("#gform_37")[0].checkValidity || jQuery("#gform_37")[0].checkValidity()){window["gf_submitting_37"]=true;} jQuery("#gform_37").trigger("submit",[true]); }' /> <input type='hidden' name='gform_ajax' value='form_id=37&amp;title=&amp;description=&amp;tabindex=0' /> <input type='hidden' class='gform_hidden' name='is_submit_37' value='1' /> <input type='hidden' class='gform_hidden' name='gform_submit' value='37' /> <input type='hidden' class='gform_hidden' name='gform_unique_id' value='' /> <input type='hidden' class='gform_hidden' name='state_37' value='WyJbXSIsIjFkZWJiYTQzOTc0NWE5NmY1ODc3NTgwMWVlMTJhNGM1Il0=' /> <input type='hidden' class='gform_hidden' name='gform_target_page_number_37' id='gform_target_page_number_37' value='0' /> <input type='hidden' class='gform_hidden' name='gform_source_page_number_37' id='gform_source_page_number_37' value='1' /> <input type='hidden' name='gform_field_values' value='' /> </div> </form> </div> <iframe style='display:none;width:0px;height:0px;' src='about:blank' name='gform_ajax_frame_37' id='gform_ajax_frame_37' title='This iframe contains the logic required to handle Ajax powered Gravity Forms.'></iframe> <script type='text/javascript'>jQuery(document).ready(function($){gformInitSpinner( 37, 'https://gravitypayments.com/wp-content/plugins/gravityforms/images/spinner.gif' );jQuery('#gform_ajax_frame_37').on('load',function(){var contents = jQuery(this).contents().find('*').html();var is_postback = contents.indexOf('GF_AJAX_POSTBACK') >= 0;if(!is_postback){return;}var form_content = jQuery(this).contents().find('#gform_wrapper_37');var is_confirmation = jQuery(this).contents().find('#gform_confirmation_wrapper_37').length > 0;var is_redirect = contents.indexOf('gformRedirect(){') >= 0;var is_form = form_content.length > 0 && ! is_redirect && ! is_confirmation;var mt = parseInt(jQuery('html').css('margin-top'), 10) + parseInt(jQuery('body').css('margin-top'), 10) + 100;if(is_form){jQuery('#gform_wrapper_37').html(form_content.html());if(form_content.hasClass('gform_validation_error')){jQuery('#gform_wrapper_37').addClass('gform_validation_error');} else {jQuery('#gform_wrapper_37').removeClass('gform_validation_error');}setTimeout( function() { /* delay the scroll by 50 milliseconds to fix a bug in chrome */ jQuery(document).scrollTop(jQuery('#gform_wrapper_37').offset().top - mt); }, 50 );if(window['gformInitDatepicker']) {gformInitDatepicker();}if(window['gformInitPriceFields']) {gformInitPriceFields();}var current_page = jQuery('#gform_source_page_number_37').val();gformInitSpinner( 37, 'https://gravitypayments.com/wp-content/plugins/gravityforms/images/spinner.gif' );jQuery(document).trigger('gform_page_loaded', [37, current_page]);window['gf_submitting_37'] = false;}else if(!is_redirect){var confirmation_content = jQuery(this).contents().find('.GF_AJAX_POSTBACK').html();if(!confirmation_content){confirmation_content = contents;}setTimeout(function(){jQuery('#gform_wrapper_37').replaceWith(confirmation_content);jQuery(document).scrollTop(jQuery('#gf_37').offset().top - mt);jQuery(document).trigger('gform_confirmation_loaded', [37]);window['gf_submitting_37'] = false;}, 50);}else{jQuery('#gform_37').append(contents);if(window['gformRedirect']) {gformRedirect();}}jQuery(document).trigger('gform_post_render', [37, current_page]);} );} );</script><script type='text/javascript'> jQuery(document).bind('gform_post_render', function(event, formId, currentPage){if(formId == 37) {if(typeof Placeholders != 'undefined'){ Placeholders.enable(); }jQuery('#input_37_9').mask('(999) 999-9999').bind('keypress', function(e){if(e.which == 13){jQuery(this).blur();} } );} } );jQuery(document).bind('gform_post_conditional_logic', function(event, formId, fields, isInit){} );</script><script type='text/javascript'> jQuery(document).ready(function(){jQuery(document).trigger('gform_post_render', [37, 1]) } ); </script>