CALIFORNIA - The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to all California small businesses as so many have been economically impacted and forced to close because of the coronavirus.
The assistance is available to all counties in the state, along with some neighboring counties in Arizona, Nevada and Oregon.
“Small businesses, private non-profit organizations of any size, small agricultural cooperatives and small aquaculture enterprises that have been financially impacted as a direct result of the Coronavirus (COVID-19) since Jan. 31, 2020, may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred,” the SBA said.
The loans could be used to pay fixed debts, payroll, accounts payable and any other bills a business might not be able to pay because of the coronavirus pandemic.
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