This loan provides up to $2 million to small businesses and non-profits to help them withstand a loss of income resulting from the Coronavirus crisis.
The interest rate is 3.75% for small businesses and 2.75% for non-profits, with a maximum term of 30 years depending on ability to repay. The loans may be used for payroll, accounts payable, fixed debts, and other bills that can’t be paid. Click here for more information.
Click here for the NYSBDC application guide, step-by-step guide to applying through the SBA’s disaster loan portal.
SBA Contact info: email@example.com or (800) 659‐2955.