The state of Georgia has recently announced a statewide disaster declaration from the U.S. Small Business Administration. This announcement means that the Small Business Administration (SBA) will provide Economic Injury Disaster Loans. These loans are available to small businesses that have been impacted in all 159 Counties in Georgia.
With the world in a pandemic, it is very important that our small businesses stay active. The communities in Georgia must help them do that. This is why the Georgia Governor, Brian B Kemp has decided to take this route. To ensure that in the midst of panic and uncertainty, that we stay pulled together in our communities. This will provide stability for not only the small businesses that are navigating through this tough time but also for the communities that they are in. With the SBA providing aid to small businesses, their loans could be the difference between closure and success.
What Governor Kemp has to say
Governor Kemp reached out by saying that, “This is great news for Georgia small business owners,”. “As we continue to navigate the impact of COVID-19 on our economy, small business owners can apply for much-needed funding to continue operation and pay their employees. My thanks to the Trump Administration for their swift action to protect small business owners throughout the country.”
Governor Kemp, along with the rest of the Georgia representatives understand the situation and are taking clear steps to bring the counties of Georgia’s financial success.
Since this announcement, applications for small businesses are now available. Businesses can also reach out to the Small Business Administration to receive facilitation. To view the application and learn more about the aid small business owners can visit this (https://disasterloan.sba.gov/ela/Declarations/Index) site. This is a great opportunity to receive a loan that can keep your business up and running for the community that you are in to benefit from your services.
The aid that the SBA is offering is applicable to non-profit organizations and small businesses. Terms and conditions for loans are different for each specific business. However, the basic terms will establish a 30 year payback period. The first payment will not be due for up to the first 12 months of the loan term. Information that is needed from the business or organization that is applying for the loan is a tax transcript, financial statements, and a profit and loss statement. The interest rates for these loans will vary from 2.75% to 3.75%.
Stand And Stretch is on your side
Stand And Stretch knows and understands that this is a tough time for everyone, especially small business owners. We hope that the information provided will enable small business owners in the Georgia area to stay running and provide goods and services to their local communities.
Even in the midst of this crisis we are still offering our digital superpowers to small business owners across the nation. To contact Stand And Stretch for more information about our digital work, click here. Contact us today!