SBA COVID-19 Loan Program

by | Mar 26, 2020

The Small Business Administration (SBA) is offering loans to small businesses of up to $2,000,000 to help overcome the temporary loss of revenue they are experiencing as a result of the COVID-19 pandemic.  Loan proceeds may be used to pay fixed debts, payroll, accounts payable, and other bills.  The interest rate for small businesses is 3.75%.  Repayment terms are up to a maximum of 30 years.   Small businesses in all states are eligible.  

More information is available at the SBA’s website:  www.sba.gov/disaster-assistance/coronavirus-covid-19

For more information or questions regarding corporate law, please contact Leonard Gambino at leonard.gambino@sfnr.com