3 Things to Know: COVID-19 Support for Small Business

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Pacific Northwest Region - March 12, 2020

u s small business administration
COVID-19: Guidance for Small Businesses  sba.gov/coronavirus

3 Things to Know: SBA Support for Businesses Impacted by Coronavirus

SBA to Provide Disaster Assistance Loans for Small Businesses Impacted by Coronavirus (COVID-19)

Today, SBA Administrator Jovita Carranza issued this statement in response to the President’s address to the nation.

The SBA Office of Disaster Assistance has been in contact with the state emergency management staff and the governor’s offices of Washington, Oregon, Idaho and Alaska and continues to work with them. As of today, the states have not yet submitted a request. The SBA anticipates they are coming soon.

Once the SBA receives and officially confirms the declaration, SBA Economic Injury Disaster Loans offer up to $2 million in assistance for a small business. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

COVID-19 disaster assistance

 

Financing, Exporting and Advising Resources to Support Small Businesses Impacted by COVID-19

The SBA launched www.sba.gov/coronavirus to provide information about resources small businesses can access now to navigate their business through the COVID-19 pandemic. 

This includes financing – working capital, microloans, express loans and lines of credit – and counseling services through the SBA Resource Partner Network to help businesses navigate preparedness plans.

"The SBA and its federal and local partners support small businesses at every stage of the business lifecycle. The highs, the lows and everything in between. Our team will be there to support local businesses through every step of the process," SBA Pacific Northwest Regional Administrator Jeremy Field said. 

Find COVID-19 resources

 

Continue to Get Updates from the SBA on COVID-19 Support for Small Businesses

Since this is a constantly evolving situation, stay informed with updates from the SBA: