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Disaster Relief Resources for Business Owners

Disaster Relief Resources for Business Owners

by Emily Victor

By March 27, 2020September 20th, 2023Insights

The U.S. Small Business Administration (SBA) is offering long-term, low-interest federal disaster loans for working capital for small businesses and private, non-profit organizations affected by the coronavirus (COVID-19) throughout the United States and associated territories. Loans of up to $2 million are available, with an interest rate of 3.75% for small businesses and 2.75% for nonprofit. Repayment terms vary by applicant, up to a maximum of 30 years, and the loan can cover accounts payable, payroll, debts and other bills.

How to Apply

    • Apply Online
      • Supporting documentation is required. This may include a personal financial statement, a businesses’ most recent tax return and a list of all current debts.
      • Businesses can call 1-800-659-2955 for additional help with an application.
  • Mail in Application. For those who would prefer to mail in their application, forms are available to download here. Applications can be mailed to:
    • U.S. Small Business Administration
      Processing and Disbursement Center
      14925 Kingsport Rd.
      Ft. Worth, TX 76155-2243

Other federal, state and lender-specific programs are available. These programs include state-specific microloans and small business relief programs. A current list of programs is available here, and we encourage you to work with your BT advisor to see if any of these programs could apply to your business.

Learn More

For more information, please contact your BT advisor or call our office at 770.396.2200.