The U.S. Small Business Administration is offering low-interest federal disaster loans to small business and non-profits for working capital who are suffering substantial economic injury as a result of the Coronavirus (COVID-19) in OREGON.
- The interest rate is 3.75 percent for small businesses.
- The interest rate for private non-profit organizations is 2.75 percent.
These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue they are experiencing.
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.
Choose from one of the two options below:
Need help applying
For those businesses who need help with applying for the loan please reach out to the Small Business Development Center located at Blue Mountain Community College. They are standing by ready to help fill out applications. They can be reached here: https://www.bluecc.edu/