SBA Offers Economic Disaster Relief Program to Small Business
On March 19, 2020, Arizona Governor Doug Ducey issued an executive order aimed at restraining the spread of COVID-19 which limits many business operations in Arizona. Impacted small businesses are wondering how are they going to manage – and keep their business viable -with these operational restrictions.
The Small Business Administration (“SBA”) is offering an economic disaster relief program. It provides targeted, low-interest loans to small businesses and non-profits that have been impacted by COVID-19. It provides working capital of up to $2 million to assist small businesses in overcoming the temporary loss of revenue.
Congress continues to work on additional measures to assist small businesses and their employees, including direct monetary assistance, tax and debt referral, and unemployment protection funds. We will keep you apprised of these programs as they are made available or passed into law.
To learn more about how your business can benefit from the economic disaster relief program currently offered by the Small Business Administration, visit this link: www.sba.gov