Photo courtesy of SBA
Small businesses in Mississippi are now eligible to apply for disaster relief as a result of the coronavirus pandemic.
The U.S. Small Business Administration has approved Governor Tate Reeves’ statewide request for an Economic Disaster Declaration.
“Small businesses and their employees are struggling to stay afloat during this trying time, but we will get through this together. We are grateful that SBA approved our request in such a swift, timely manner so we are better able to help Mississippi small businesses and their employees weather this storm,” said Governor Reeves.
This means that all Mississippi businesses and non-profits that have been severely impacted by the coronavirus outbreak are eligible to apply for low-interest federal disaster loans. Applicants can apply for up to $2 million in working capital loans that can provide vital economic support to help overcome the temporary loss of revenue.
Small business owners can begin the process immediately and apply for assistance by visiting this link: sba.gov/disaster
Additionally, the SBA offers a three-step process for disaster loans, which is explained further, here.