Swift Town, S.D. (KOTA) – The U.S. Smaller Business enterprise Administration has prolonged the deadline for little corporations impacted by the pandemic to utilize for catastrophe guidance financial loans.
Businesses can now use for the Financial Injuries Disaster Financial loan method by means of Dec. 31, 2021, SBA officials announced Monday.
The deadline extension arrives as a outcome of the current bipartisan COVID-19 reduction invoice handed by Congress and signed into legislation by President Donald Trump.
Officials say to date, the SBA has permitted $197 billion in minimal-fascination financial loans to modest enterprises, non-income and agricultural enterprises through the pandemic.
SBA South Dakota District Director James Wood reported the extension is “good news” for South Dakota firms impacted by the pandemic.
“Since April 2020, the SBA has presented just about 7,600 COVID-19 Emergency Harm Disaster Loans to South Dakota company proprietors – that’s approximately $464 million in financial aid,” Wooden mentioned.
EIDL financial loans are offered at an fascination charge of 3.75% for compact corporations and 2.75% for nonprofit organizations. Far more information and facts about the financial loans can be located at the SBA web page.
Copyright 2021 KOTA. All legal rights reserved.