The U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for working capital to Washington small businesses suffering substantial economic injury as a result of COVID-19.
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.
Applicants may also call SBA’s Customer Service Center at 800-659-2955 or email for more information. Individuals who are deaf or hard-of-hearing may call 800-877-8339.
Mail completed paper applications to:
U.S. Small Business Administration,
Processing and Disbursement Center,
14925 Kingsport Road,
Fort Worth, TX 76155
The deadline to apply for an Economic Injury Disaster Loan is Dec. 16, 2020.
To stay updated on COVID-19 locally, go to issaquahwa.gov/COVID19
For more information about available SBA resources and services, go to SBA.gov/coronavirus.