US Small Business Administration (SBA) Economic Injury Disaster Loan Program
Small business owners in New York are currently eligible to apply for a low-interest loan due to Coronavirus (COVID-19) through the U.S. Small Business Administration (SBA).
SBA is working directly with state Governors to provide targeted, low-interest loans to small businesses and nonprofits severely impacted by the Coronavirus (COVID-19). SBA’s Economic Injury Disaster Loan Program offers working capital loans of up to $2 million to pay fixed debts, payroll, accounts payable and other bills. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.