SBA Disaster Assistance Loans Available to Ohio Businesses
Dear members,

As you may have heard, 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).

Thanks to a concerted effort by partners throughout the state, Ohio small businesses can now apply for SBA Economic Injury Disaster Loans (EIDL). 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.

To apply, begin below.
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 . The interest rate for 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.

For questions or help, call the  SBA's Disaster Customer Service Center at 800-659-2955 or email . Individuals who are deaf or hard-of-hearing can call 800-877-8339.
SBA Loan Overview Virtual Meetings
The newly authorized Economic Injury Disaster Loan Program from the SBA is a resource for businesses affected by COVID-19. Join Steve Millard from Greater Akron Chamber and other ecosystem partners as they provide a brief overview of this resource and the keys to applying for this support for your business or non-profit. 
SBA Loan Overview - 9:30 AM
9:30 AM - 10:30 AM
Online - Virtual Meeting
SBA Loan Overview - 1:45 PM
1:45 PM - 2:45 PM
Online - Virtual Meeting
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