(This help document will be updated continuously. It was originally published on March 16, 2020, and was last updated on March 17.)
The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration. Learn more here.
You can track the status of your state or territory's access to disaster loans by making use of the filters provided here. Once the declaration has been made for your area, you can begin your loan application process here.
Alternatively, your business may qualify for standard SBA loans, in which case you would not need to wait for the disaster relief to be available. You may begin that process here.
Yesterday evening, the Baker-Polito Administration announced economic support for small businesses in Massachusetts with a $10 million loan fund to provide financial relief to those that have been affected by COVID-19. You can learn more about that program here.