CBS19: SBA disaster loans available for 7th District counties

CBS19, MICHAEL CALDWELL

Rep. Abigail Spanberger announced on Friday that the U.S. Small Business Administration issued Disaster Declarations for all 10 7th District counties and opened an application portal for Central Virginians to apply for its Economic Injury Disaster Loans, according to a news release from Spanberger’s staff.

Through the SBA, businesses in central Virginia can now apply for low-interest, emergency loan assistance. All counties in Virginia are included in the declaration. Click here to apply for a loan online or call 1-800-659-2955.

“As the coronavirus creates tremendous uncertainty for our area’s companies, business owners, and working families, we must take serious steps to mitigate the tremendous economic hit our region’s businesses might take in the coming weeks and months. I’ve already heard directly from employers who are being forced to make difficult management decisions, and they’ve made clear that emergency loans are urgently needed to make it through the many uncertain days ahead,” Spanberger said in the release. “The SBA’s announcement is welcome news for Central Virginia small business owners—and I encourage all who need emergency assistance to take advantage of this designation. Small businesses are the backbone of our region’s economy, and I’ll keep fighting to make sure they can weather this public health crisis, protect the financial security of their employees, and achieve future success.”

The SBA also extended the time frame for the start of emergency loan repayment from six months to a year.

Spanberger led a conference call with the Virginia Chamber of Commerce, county Chambers of Commerce and local business owners to discuss the current state of 7th District businesses and employees during the COVID-19 pandemic. She discussed the next steps for businesses seeking assistance, according to the release.

Click here for more information about the SBA’s Economic Injury Disaster Loans or call the SBA’s Richmond District Office at 804-771-2400.

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