SBA Loans can Save Businesses from the Coronavirus Outbreak
This week, President Trump unveiled his administration’s plans to take on the coronavirus outbreak. Amongst those plans, they will release $50 billion to small businesses struggling as a result of the virus. And yes, these funds will be made available to your event and party rental company. SBA disaster loan opportunities are coming your way.
The Small Business Administration (SBA) will soon be accepting applications for economic injury disaster loans to relieve businesses of financial issues stemming from the coronavirus outbreak.
Keep an eye on the SBA Disaster Loan information site for an SBA national emergency declaration, or call 1-800-659-2955 and ask for an update. The SBA call center is located here in Buffalo, New York not far from the Tent and Table offices, so it’s safe to say they’re friendly people looking to help!
SBA Disaster Loan Terms
The Small Business Administration will lend qualified borrowers up to $2 million in direct funds, at a rate of 3.75 percent that’s repayable over 30 years. There’s no penalty for early payment, and the SBA traditionally has exceptionally fast turnaround.
Our company made use of an SBA emergency loan ourselves, in the wake of September 11th. Our experience working with them was nothing short of phenomenal. They processed our application quickly and got us the funds we needed fast. We might not be in business today if not for an SBA disaster loan. We strongly encourage you to consider looking into one!
The COVID-19/novel coronavirus outbreak may seem intimidating from a business owner’s perspective. But with a little patience, a willingness to hold your ground during the public panic, and a little financial help by way of an SBA disaster loan, your company should come out on the other side of this situation unscathed. And we hope you’ll give Tent and Table a call at #1-716-832-8368 when you do.
1-800-659-2955 (Call anytime between 8am and 8pm EST, including weekends)