The Small Business Administration (SBA) is offering loans to small businesses of up to $2,000,000 to help overcome the temporary loss of revenue they are experiencing as a result of the COVID-19 pandemic. Loan proceeds may be used to pay fixed debts, payroll, accounts payable, and other bills. The interest rate for small businesses is 3.75%. Repayment terms are up to a maximum of 30 years. Small businesses in all states are eligible.
More information is available at the SBA’s website: www.sba.gov/disaster-assistance/coronavirus-covid-19
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