03/17/2020 - Disaster Assistance for Washington Small Businesses Impacted by COVID-19
PRESS RELEASE
FOR IMMEDIATE RELEASE
March 17, 2020
Disaster Assistance for Washington Small Businesses Impacted by COVID-19
PORT ORCHARD, WA – Please see the below information shared with the City regarding small businesses economically impacted by COVID-19.
Disaster Field Operations Center West
Release Date: March 16, 2020 Contact: Richard A. Jenkins, (916) 735-1500, Richard.Jenkins@sba.gov Release Number: WA 16333-01 Follow us on Twitter, Facebook, Blogs & Instagram
SBA Offers Disaster Assistance to Washington Small Businesses Economically Impacted by the Coronavirus (COVID-19)
SACRAMENTO, Calif. – The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to Washington small businesses suffering substantial economic
injury as a result of the Coronavirus (COVID-19), SBA Administrator Jovita Carranza announced today. SBA acted under its own authority, as provided by the Coronavirus Preparedness and
Response Supplemental Appropriations Act that was recently signed by the President, to declare a disaster following a request received from Gov. Jay Inslee on March 13, 2020.
The disaster declaration makes SBA assistance available in Adams, Asotin, Benton, Chelan, Clallam, Columbia, Franklin, Garfield, Grays Harbor, Island, Jefferson, King, Kitsap, Kittitas,
Klickitat, Lewis, Lincoln, Mason, Okanogan, Pacific, Pierce, San Juan, Skagit, Skamania, Snohomish, Spokane, Thurston, Wahkiakum, Walla Walla, Whatcom, Whitman and Yakima counties in
Washington; Benewah, Latah and Nez Perce counties in Idaho; and Gilliam, Hood River, Morrow, Sherman, Umatilla and Wasco counties in Oregon.
“SBA is strongly committed to providing the most effective and customer-focused response possible to assist Washington small businesses with federal disaster loans. We will be swift
in our efforts to help these small businesses recover from the financial impacts of the Coronavirus (COVID-19),” said Administrator Carranza.
SBA Customer Service Representatives will be available to answer questions about SBA’s Economic Injury Disaster Loan program and explain the application process.
“Small businesses, private non-profit 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 Carranza.
“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. Disaster loans can provide vital economic
assistance to small businesses to help overcome the temporary loss of revenue they are experiencing,” Carranza added.
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 non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to
entities without the financial ability to offset the adverse impact without hardship.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer
Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may 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.
For more information about Coronavirus, please visit: Coronavirus.gov.
For more information about available SBA resources and services, please visit: SBA.gov/coronavirus.
The Western Washington University has also included a link to apply for an SBA emergency loan on their website at: https://sbdc.wwu.edu/business-continuity-resources
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Press Release: Small Businesses
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City of Port Orchard
Mayor
216 Prospect Street, Port Orchard, WA 98366
Voice: (360) 876-4407 ( Fax: (360) 895-9029
rputaansuu@cityofportorchard.us
www.cityofportorchard.us