 Thank you for reaching out to the Small Business Administration’s West Virginia District Office in recent days. We know these are challenging times and we are here to support you all we can with your small business needs.
We are pleased to share that West Virginia small businesses (according to SBA’s size standards) and most private non-profits with substantial economic injury due to coronavirus can now apply for loans of up to $2 million. These loans can provide working capital to meet the needs of payroll, accounts payable, and fixed debt payments until the situation improves. Interest rates are 3.75% for small businesses and 2.75% for non-profits.
Click below to apply for an economic injury loan.
What's an EIDL?
- The SBA EIDL program can provide low-interest loans of up to $2M to businesses and private non-profits.
- EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills.
- The interest rate is 3.75% for small businesses and non-profits is 2.75%.
- EIDLs have long-term repayment options, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based on borrower's ability to repay.
How do I apply?
What's next?
- If this update was forwarded to you, sign up our emails: sba.gov/updates.
- Follow us on Twitter @SBA_WV
- Our office is working to offer daily online training presentations, please check the schedule on our Small Business Events calendar regularly. Click here to view.
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