Disaster assistance available to California small businesses economically impacted by the Coronavirus
The U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for working capital to California small businesses – including those in Mission Viejo – suffering substantial economic injury because of the Coronavirus (COVID-19).
“Small businesses, private nonprofit organizations of any size, small agricultural cooperatives and small aquaculture enterprises that have been financially impacted as a direct result of the Coronavirus (COVID-19) since Jan. 31, 2020 may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred,” said SBA Administrator Jovita Carranza
Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private nonprofit organizations is 2.75 percent.
Applicants can apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. For assistance, contact (800) 659-2955 or firstname.lastname@example.org. People who are deaf or hard‑of‑hearing can call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for an Economic Injury Disaster Loan is Dec. 16, 2020.