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HARRISBURG (Newsradio 1020 KDKA) - Low-interest loans are now available for small businesses and eligible non-profits in every county in Pennsylvania.
“We are incredibly grateful that the SBA (U.S. Small Business Administration) recognized the urgency of this situation and granted our request so quickly,” said Gov. Tom Wolf. “I encourage our businesses and non-profits to look at the SBA resources available to them and take advantage of this opportunity for financial assistance during this time of uncertainty.
The SBA Economic Injury Disaster Loan offers up to $2 million in assistance and help small businesses that are experiencing loss of revenue during the COVID-19 outbreak.
Interest rates for small businesses is 3.75 percent and 2.75 percent for non-profits.
Businesses with credit available elsewhere are not eligible.
Repayment plans be long-term up to 30 years but each is a case-by-case basis.
Those interested in applying for a loan can call the SBA’s customer service center at 1-800-659-2955 (1-800-877-8339 for the hearing impared.
You can also Email the SBA.
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