Small Business Emergency Loans
March 21, 2020 / GoldenMileAlliance / Uncategorized
We’ve been notified that Frederick County businesses and nonprofits are now eligible to apply for emergency loans through the Small Business Administration (SBA). This program designation recognizes the catastrophic impact that shutdowns are having resulting from the Coronavirus pandemic.
This program, administered by the SBA, offers emergency loans at a deeply discounted interest rates for businesses and nonprofits covered by national declarations. Currently, Frederick County is covered because of our contiguous border with PA and VA, but a statewide declaration is also anticipated for all of Maryland.
Unlike other situations, a business does NOT need to have been turned down by a commercial lender in order to apply.
The process takes some patience and time, but for our members struggling with both short and long term financial issues through no fault of their own, this program could offer critical assistance.
Please go https://disasterloan.sba.gov/ela/ to begin the process.