Governor to U.S. Small Business Administration: Make low-interest loans available to DE small businesses, nonprofits affected by COVID-19
WILMINGTON, Del. – Governor John Carney on Monday submitted an application formally requesting the U.S. Small Business Administration (SBA) to provide Delaware an Economy Injury Declaration, which makes loans available to small businesses and nonprofit organizations in New Castle, Kent and Sussex counties.
In his letter to the SBA, Governor Carney said the impact of the novel coronavirus (COVID-19) on small businesses would likely be significant.
“We know that the public health restrictions we put in place to reduce the spread of coronavirus will hit Delaware’s small business community especially hard,” said Governor Carney. “We will continue to work with the Small Business Administration, and with our congressional delegation and state agencies, to provide relief to those small businesses impacted during this time.”
Governor Carney has directed the Delaware Division of Small Business and Delaware Department of State to look for additional opportunities to support the state’s 25,000 small businesses.
Once the state’s application to the SBA is approved, the low-interest loans of up to $2 million per business will be available for many small businesses and nonprofits that have suffered substantial economic injury as a result of the COVID-19 outbreak.
They are designed to help with the temporary loss of revenue these businesses and nonprofits are experiencing. The loans may be used for working capital expenses such as payroll, fixed debts and accounts payable, as well as other bills the business or nonprofit is currently unable to pay because of the impact of COVID-19.
Click here for more information on SBA Economy Injury Disaster Loans.
On Thursday, March 12, Governor Carney issued a State of Emergency declaration to mobilize state resources to prepare for the spread of coronavirus across Delaware.
Delawareans with questions about COVID-19 or their exposure risk can call the Division of Public Health’s Coronavirus Call Center at 1-866-408-1899 or 711 for people who are hearing impaired from 8:30 a.m. to 8:00 p.m. Monday through Friday, and 10 a.m. to 4 p.m. Saturday and Sunday, or email DPHCall@delaware.gov. For the latest on Delaware’s response, go to de.gov/coronavirus.
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