Small Businesses Now Eligible For Disaster Relief In All Of Connecticut

Small businesses and nonprofit organizations in Connecticut that have been affected by the outbreak of the novel strain of the coronavirus (COVID-19) are now eligible for disaster relief loans of up to $2 million from the United States Small Business Administration (SBA).

The novel strain of the novel coronavirus (COVID-19).
Photo Credit: *Pixabay*

Joe Lombardi

03/17/2020 10:29 a.m.

SBA acted under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by President Donald Trump, to declare a disaster following a request received from Connecticut Governor Ned Lamont.

Lamont issued the request which covers all eight of the state's counties on Sunday, March 15.

SBA Customer Service Representatives will be available to answer questions about SBA’s Economic Injury Disaster Loan program and explain the application process, SBA Administrator Jovita Carranza said.

“Small businesses, private non-profit organizations of any size, small agricultural cooperatives and small aquaculture enterprises that have been financially impacted as a direct result of the Coronavirus (COVID-19) since Jan. 31, 2020, may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred,” said Carranza.

The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela.

Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance.

Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339.

Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

“SBA is strongly committed to providing the most effective and customer-focused response possible to assist small businesses with federal disaster loans. We will be swift in our efforts to help these small businesses recover from the financial impacts of the Coronavirus (COVID-19),” said Carranza.

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