SBA offers low interest disaster loans during COVID-19 pandemic

West Virginia

(WVNS) — Businesses in all 55 counties in West Virginia are eligible for help from the Small Business Administration (SBA). The group is offering low-interest loans for those suffering substantial economic loss as a result of the COVID-19 pandemic.

The loans are also available to some counties in Virginia, including Tazewell, Bland, Buchanan, Giles and Allegheny. Other states with eligible counties include Kentucky, Maryland, Ohio and Pennsylvania.

Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years.

“SBA is strongly committed to providing the most-effective and customer-focused response possible to assist West Virginia’s small businesses with federal disaster loans,” said SBA Administrator Jovita Carranza. “We will be swift in our efforts to help these small businesses recover from the financial impacts of the Coronavirus (COVID-19).”

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela  Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov  for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may call (800) 877-8339. For complete details on SBA, visit www.sba.gov

SBA Customer Service Representatives will be available to answer questions about SBA’s Economic Injury Disaster Loan program and explain the application process at 1-800-659-2955. The deadline to apply is Dec. 21, 2020.

Eligible counties by state:

West Virginia

  • All Counties

Virginia

  • Alleghany
  • Augusta
  • Bath
  • Bland
  • Buchanan
  • Clarke
  • Craig
  • Frederick
  • Giles
  • Highland
  • Loudoun
  • Rockingham
  • Shenandoah
  • Tazewell

Kentucky

  • Boyd
  • Pike
  • Lawrence
  • Martin

Maryland

  • Allegany
  • Garrett
  • Washington

Ohio

  • Athens
  • Belmont
  • Columbiana
  • Gallia
  • Jefferson
  • Lawrence
  • Meigs
  • Monroe
  • Washington

Pennsylvania

  • Beaver
  • Fayette
  • Greene
  • Washington

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