Share This

US and Canada Offering Disaster Assistance Loans

March 15, 2020

The U.S. Small Business Administration is offering designated U.S. states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). The SBA is accepting applications, however, the SBA must receive a request from a state/territory governor to issue an Economic Injury Disaster Loan declaration. Your call to action: Contact your local government and request that they reach out to your state’s or territory’s governor to request assistance. Upon this request, the SBA will issue the loan declaration. For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail [email protected].

The BDC, Business Development Bank of Canada, is also offering financial support to companies impacted by the coronavirus.

And, the European Commission is calling on the European Parliament and European Council to swiftly approve a proposal that would bring EUR37 billion to help fight the coronavirus situation and provide financial relief to companies and organizations adversely effected. Members outside North America are encouraged to advocate for the approval of this relief funding.