Small Business Administration offers economic injury disaster loans

(WATE) – The United States Small Business Administration is offering economic injury disaster loans to business owners in certain areas.

The loan can help with necessary working capital until normal operations resume and provide up to $2 million for financial obligations. The loan amount is based on economic injury and the company’s financial needs, regardless of property damage.

To be eligible for the loan you must have a small business, small agricultural cooperative or a private nonprofit organization. Also, an applicant must not be able to obtain credit elsewhere. The SBA says a business can qualify for an EIDL and a physical disaster loan.

To apply for a loan, you must submit an application, and a signed and dated IRS Form 4506-T. For more information on disaster areas, visit the SBA’s website.

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