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COVID-19 Small Business and Non-Profit Organization Loans

We are entering a new era, and many small businesses are suffering as a result. You are not alone! The Small Business Administration is working with the local government on an Economic Disaster Loan Program for small businesses and non-profit organizations that are negatively impacted by COVID-19. Today, we break down who qualifies, why you might want to use it, and where to apply.

Who Qualifies

Organizations and non-profit organizations alike can qualify for up to $2 million in current and future disaster assistance. These loans have a low-interest rate and can be used for a multitude of different purposes. The following states qualify, but note that some areas on this list include the entire state, while others are certain counties within a state:

  • California

  • Connecticut

  • Delaware

  • District of Columbia

  • Florida

  • Georgia

  • Indiana

  • Maine

  • Massachusetts

  • Montana

  • Nevada

  • New Hampshire

  • New Jersey

  • New Mexico

  • North Carolina

  • Rhode Island

  • Utah

  • Washington


You can use this loan for a multitude of things for your business, but here are some common issues that business owners encounter.

  • Capital Access

  • Workforce Capacity

  • Inventory and Supply Chain Shortfalls

  • Facility Remediation/Clean-Up Costs

  • Insurance Coverage Issues

  • Changing Market Demand

  • Marketing

The interest rate for small businesses is 3.75% and for a non-profit organization is 2.75% with loans up to 30 years. You can use this money additionally for:

  • Paying Fixed Debts

  • Payroll

  • Accounts Payable

  • Other Bills

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Disclaimer: This article contains information and opinions from Adam Kae & Associates, and the information and opinions should not necessarily be seen as the best possible solutions for your business. Please contact us at to help you find the best solutions for your business.



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