The U.S. Small Business Administration approved the State of Oklahoma’s request for disaster loans for small businesses across all 77 counties who are affected by the COVID-19 pandemic. Businesses and non-profit groups can apply for up to $2 million in loans. Information can be found at www.sba.gov/disaster.

“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,” said SBA Administrator Jovita Carranza.

Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship.  The deadline to apply is Dec. 21, 2020.

For information about available SBA resources and services, visit: SBA.gov/coronavirus.