Georgia Governor Brian Kemp announced, Wednesday, March 18, that Georgia has received an official statewide disaster declaration from the U.S. Small Business Administration (SBA) for small businesses affected by the COVID-19 outbreak.
This declaration will provide assistance in the form of SBA Economic Injury Disaster Loans to small businesses in all 159 counties in Georgia who have been affected.
“This is great news for Georgia small business owners,” Kemp said. “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.”
The application is live, and Georgia small business owners can go to www.disasterloan.sba.gov in order to apply.
According to Fannin County Development Authority Executive Director Christie Gribble, loans are available for small business and non-profit organizations.
“While terms will be established on a case-by-case basis, many will have a thirty-year repayment term with first payments not due for up to twelve months,” Gribble said. “Businesses should expect to provide a tax transcript, financial statements, and a profit and loss statement. Interest rates will range from 2.75% to 3.75%.”
Gribble said her office is available to help business owners with resources they made need to file the application.
“Let us know what you need, so we can do our best to connect you with resources and guidance,” she said.