KANSAS CITY, Mo. — Kansas and Missouri businesses in need of assistance due to the coronavirus pandemic are now able to apply for emergency disaster loans.
The U.S. Small Business Administration “acted under its own authority” to provide assistance, according to a news release.
“Small businesses, private non-profit organizations of any size, small agricultural cooperatives and small aquaculture enterprises that have been financially impacted as a direct result of the Coronavirus (COVID-19) since Jan. 31, 2020, may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred,” SBA Administrator Jovita Carranza said in the release.
The loans can be used for fixed debts, payroll, accounts payable and “other bills that can’t be paid because of the disaster’s impact,” the release state.
The loans have a 3.75 percent interest rate for small businesses and 2.75 percent for private nonprofit organizations.
Businesses interested in applying for the loan can do so online.
