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How to apply for a federal disaster loan if you are a small business

Posted at 11:40 AM, Mar 19, 2020
and last updated 2020-03-19 20:07:08-04

Federal disaster loans are now available for Nevada small businesses impacted by the coronavirus pandemic.

What counties are covered?

Nevada counties include Clark, Douglas, Elko, Nye and Washoe as well as the neighboring counties of Churchill, Esmeralda, Eureka, Humboldt, Lander, Lincoln, Lyon, Mineral, Pershing, Storey, White Pine and Carson City. Neighboring counties in Arizona, California, Idaho, Oregon, and Utah are also eligible for assistance.

Who is eligible?

Small businesses, private non-profit organizations, small agricultural cooperatives, and small aquaculture enterprises that have been financially impacted by the pandemic.

How much money is available?

Small businesses may quality for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses.

What is it based on?

Eligibility for Economic Injury Disaster Loans is based on the financial impact of the coronavirus. The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent.

How do you apply?

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela.

Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance.

Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

What is the deadline?

Dec. 17, 2020

Where can I get more information?

Click here for more information.