The deadline to apply for an Economic Injury Disaster Loan is Dec. 21, 2020
The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to Nebraska small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19), SBA Administrator Jovita Carranza announced Monday. 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. Pete Ricketts on March 17, 2020.
The disaster declaration makes SBA assistance available in the entire state of Nebraska and the neighboring counties below.
Neighboring Colorado counties: Logan, Phillips, Sedgwick, Weld and Yuma;
Neighboring Iowa counties: Fremont, Harrison, Mills, Monona, Pottawattamie and Woodbury;
Neighboring Kansas counties: Brown, Cheyenne, Decatur, Doniphan, Jewell, Marshall, Nemaha, Norton, Phillips, Rawlins, Republic, Smith and Washington;
Neighboring South Dakota counties: Bennett, Bon Homme, Charles Mix, Clay, Fall River, Gregory, Oglala Lakota, Todd, Tripp, Union and Yankton;
Neighboring Wyoming counties: Goshen, Laramie and Niobrara.
“SBA is strongly committed to providing the most effective and customer-focused response possible to assist Nebraska 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.
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.
The deadline to apply for an Economic Injury Disaster Loan is Dec. 21, 2020.
For more information about Coronavirus, please visit: Coronavirus.gov.
For more information about available SBA resources and services, please visit: SBA.gov/coronavirus.