Federal Disaster Loans Available to Small Businesses Impacted by COVID-19
The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to Oklahoma small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).
This funding will be provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by President Trump.
To qualify for the program, the state must submit documentation of business losses for at least five businesses per county.
If approved, an SBA Economic Injury Disaster Loan assistance declaration will make disaster loans of up to $2 million available to small businesses and private, nonprofit organizations to help alleviate economic injury caused by COVID-19.
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