The federal Small Business Administration (SBA) may be able to provide assistance through the Economic Injury Disaster Loans program to businesses that have suffered substantial economic injury in an eligible disaster area. Congress approved up to $7 billion in low-interest disaster loans specifically to assist small businesses impacted by COVID-19. These loans can help small businesses meet financial obligations and cover operating expenses.
Businesses in 32 counties in Washington state can now apply for SBA’s Economic Injury Disaster Loan Program – disaster relief loans up to $2 million with interest rates between 2.75% and 3.75% depending on the type of business. The funds can be used for paying debts, bills, accounts payable, payroll, among other reasons.
See links below for information on how to apply:
See WA State Department of Commerce webpage for more details and links to state, regional and federal updates regarding Coronavirus.