Coronavirus: Small businesses, nonprofits can apply for SBA disaster loans

Area businesses and nonprofits affected by the coronavirus pandemic can now apply for low-interest loans from the U.S. Small Business Administration’s Economic Injury Disaster Loan program.

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“This pandemic is having a huge impact, not only on our citizens and operations, but on our local business community,” Montgomery County Commission President Judy Dodge said in a prepared statement. “We want to ensure all our businesses have access to the resources they need to get through these difficult times.”

Loans are available for up to $2 million and can be used to help retire fixed debts, payroll, accounts payable and other bills that can’t be paid because of the pandemic’s impact.

Interested businesses and nonprofits can apply online at https://disasterloan.sba.gov/ela/.

Online applications are preferred, but organizations can also call 1-800-659-2955 and request a paper application by mail.

Applicants should have their most recent federal income tax return and a completed and signed IRS Form 4506T, which authorizes the release of tax information.

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