Please be advised: the SBA has issued a disaster declaration for the state of PA. Businesses should visit: http://sba.gov/disaster to apply for Economic Injury Disaster Loans (EIDL).
March 19, 2020 – 4:15 p.m.
SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.
SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
Businesses may obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing impaired), or by e-mailing disastercustomerservice@sba.gov
Print forms are also available here: https://disasterloan.sba.gov/ela/Information/PaperForms
Completed applications should be returned to the local DLOC or mailed to:
U.S. Small Business Administration
Processing and Disbursement Center
14925 Kingsport Road,
Fort Worth, TX 76155.
The deadline to return economic injury disaster loan applications is December 21, 2020.