Small businesses in Ohio affected by COVID-19 can now apply for up to $2 million to assist with cash flow. Loan terms are available up to 30 years and loans will come with an interest rate of 3.75% for small businesses without credit available elsewhere.
How to apply for assistance
Simply click here to fill out and submit the online application on SBA’s website.
** Please note, businesses need to check “economic injury” so that the form works. Then it should work even with a city listed.
More about SBA Disaster Recovery Loans
SBA provides low-interest disaster loans to small businesses, agricultural cooperatives, aquaculture enterprises and nonprofits affected by disaster to help meet working capital needs or normal business operating expenses through the recovery period. Businesses are eligible for these loans regardless of whether or not they have suffered property damage. The maximum loan for any combination of property damage and/or economic injury is $2 million.
Below are links to a variety of additional disaster assistance information provided by SBA:
We’re here to help.
If you have questions or need assistance, pleased do not hestitate to contact us.
Executive Director, OSDC