Federal Small Business Disaster Loans Available in Berkshires

The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).

According to their news release, the disaster declaration makes SBA assistance available in the entire state of Connecticut; and the contiguous counties of Berkshire, Hampden, and Worcester in Massachusetts; and Dutchess, Putnam and Westchester in New York; and Kent, Providence and Washington in Rhode Island.

SBA Administrator Jovita Carranza said, “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."

Applicants may apply online, receive additional disaster assistance information and download applications from the SBA's website. Applicants may also call SBA’s Customer Service Center at (800) 659-2955. Representatives will be available to answer questions about SBA’s Economic Injury Disaster Loan program and explain the application process.

The deadline to apply for an Economic Injury Disaster Loan is Dec. 16, 2020.