We want to ensure the Metro South Region is positioned for recovery.
SBA DISASTER LOAN WEBINAR

with Mayor of Brockton, Robert F. Sullivan
Join us for a Skype webinar on  Friday, March 27, 2020 at 2:00 PM  with the U.S. Small Business Administration on how to apply for an Economic Injury Disaster Loan (EIDL). You can find a description on EIDL and instructions on how to sign up for Skype below. You will be sent the Skype link via email the morning of the webinar, so please make sure to register with your correct email address. If you have any questions, please contact Lexi .


Description:

The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).
 
SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
 
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; The interest rate for public 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.
 
Economic Injury Disaster Loan (EIDL) program is a direct loan program administered by the SBA’s Office of Disaster Assistance and funded by the U.S. Treasury.
 
Unlike most SBA programs, EIDL does not require a bank or credit union partner however SBA will work with your existing bank or credit union (if any) and take a junior lien position on available collateral.
 
Skype:

You can sign up for a FREE Skype for Business account  here . If you are not sure how to sign up for a Skype account, please find instructions  here .

Visit the Chamber's One-Stop Resource Guide for COVID-19 Updates, Best Practices for Working from Home, Restaurants Available for Take-Out, and more.