STAFF REPORT :::
The state of Georgia has received an official statewide disaster declaration from the U.S. Small Business Administration.
According to a press release from Governor Brian Kemp, this will provide assistance in the form of SBA Economic Injury Disaster Loans to impacted small businesses in all 159 Georgia counties.
“This is great news for Georgia small business owners,” Kemp said. “As we continue to navigate the impact of COVID-19 on our economy, small business owners can apply for much-needed funding to continue operation and pay their employees. My thanks to the Trump Administration for their swift action to protect small business owners throughout the country.”
The application is now live, and Georgia small business owners can go directly to the SBA for assistance. Small business owners should visit www.disasterloan.sba.gov for information and the application.
Loans are available for small businesses and non-profit organizations. While terms will be established on a case-by-case basis, many will have a 30-year repayment term with first payments not due for up to 12 months.
Businesses should expect to provide a tax transcript, financial statements and a profit and loss statement. Interest rates will range from 2.75 to 3.75 percent.
