HENRICO, V.A. – As the coronavirus pandemic threatens the stability of the region’s economy, U.S. Representative Abigail Spanberger today announced that the U.S. Small Business Administration (SBA) has issued Disaster Declarations for all 10 Seventh District counties and has opened an application portal for Central Virginians to apply for its Economic Injury Disaster Loans.
With this designation, Central Virginia businesses can now apply for low-interest, emergency loan assistance through the SBA. Applicants are encouraged to apply online at https://disasterloan.sba.gov/ela/ or call the SBA at 1-800-659-2955. All 95 Virginia counties have been included in today’s declaration.
“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,” said Spanberger. “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.”
In response to the coronavirus pandemic, the SBA has also extended the window of time for the start of emergency loan repayment from six months to one year.
Yesterday, Spanberger led a conference call with the Virginia Chamber of Commerce, county Chambers of Commerce, and local business owners to discuss the state of Seventh District businesses and employees amid the coronavirus pandemic. As part of the conversation, Spanberger discussed the next steps for businesses seeking assistance from the SBA and previewed this designation.
For additional information about the SBA’s Economic Injury Disaster Loans, visit https://www.sba.gov/coronavirus or contact the SBA’s Richmond District Office at 804-771-2400