Economic Disaster Injury Loan available to small businesses effected by coronavirus pandemic
CHENANGO COUNTY – Commerce Chenango announced that last week the Small Business Administration has approved a statewide disaster declaration for NY eligible small businesses.
According to Commerce Chenango President and CEO Kerri Green, The Economic Disaster Injury loan is a low interest loan that can provide up to two million dollars to small businesses experiencing financial hardship during the coronavirus pandemic.
Commerce Chenango will be hosting a live stream on their Facebook page at 12:05 p.m., today, to discuss how they can help small businesses apply for the loan and other ways they can help businesses in the community. Their page can be found at www.facebook.com/CommerceChenango.
Green suggests that businesses applying for the loan have their financial information pulled together. Information such as revenue loss, and a clear budget of what they need and why will help make the application process smoother.
“Have it spelled out as to what the money would be used for,” said Green.
Green states that the portal for the loan will be open through December of 2020, so businesses who may not be effected right now may still apply for the loan later in the year.
To apply for the loan, visit https://disasterloan.sba.gov/ela.
According to Commerce Chenango President and CEO Kerri Green, The Economic Disaster Injury loan is a low interest loan that can provide up to two million dollars to small businesses experiencing financial hardship during the coronavirus pandemic.
Commerce Chenango will be hosting a live stream on their Facebook page at 12:05 p.m., today, to discuss how they can help small businesses apply for the loan and other ways they can help businesses in the community. Their page can be found at www.facebook.com/CommerceChenango.
Green suggests that businesses applying for the loan have their financial information pulled together. Information such as revenue loss, and a clear budget of what they need and why will help make the application process smoother.
“Have it spelled out as to what the money would be used for,” said Green.
Green states that the portal for the loan will be open through December of 2020, so businesses who may not be effected right now may still apply for the loan later in the year.
To apply for the loan, visit https://disasterloan.sba.gov/ela.
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