WHAT’S AVAILABLE THROUGH SBA? – Positive Change Purchasing Cooperative

Author: Larry Gilmore,CMP, AMP 3/22/2020 ClearBlu Capital Group

ClearBlu Capital Group is committed to taking care of small businesses and will continue to be here for you amid the uncertainty of COVID-19.

We want to assure you that we take the health and well-being of our community, customers, and associates very seriously. Like you, we’re closely monitoring the quickly developing effects of the Coronavirus (COVID-19) pandemic.

WHAT’S AVAILABLE THROUGH SBA?

SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.
SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response, and the SBA is strongly committed to providing the most effective and customer-focused response possible.
For questions, please contact the SBA disaster assistance customer service center at 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov.