Georgia has received an official statewide disaster declaration from the U.S. Small Business Administration (SBA). This declaration will provide assistance in the form of SBA Economic Injury Disaster Loans to impacted small businesses in all 159 counties in Georgia.
Governor Brian Kemp called the announcement Wednesday, “great news” for Georgia’s small business owners.
“As we continue to navigate the impact of COVID-19 on our economy, small business owners can apply for much-needed funding to continue operation and pay their employees,” he explains.
The application is now live, and Georgia small business owners can go directly to the SBA for assistance. Small business owners should visit www.disasterloan.sba.gov for information and the application.
Loans are available for small business and non-profit organizations. While terms will be established on a case-by-case basis, many will have a thirty-year repayment term with first payments not due for up to twelve months. Businesses should expect to provide a tax transcript, financial statements, and a profit and loss statement. Interest rates will range from 2.75% to 3.75%.
