ROUND LAKE BEACH –�In response to the economic disruptions caused by the COVID-19 outbreak, state Rep. Sam Yingling, D-Grayslake, is highlighting the new disaster relief loans offered by the U.S. Small Business Administration to relieve the economic impact facing small businesses.
“With so many of our local small businesses hurting during this crisis, we need to make sure we are taking advantage of every resource available to help them stay afloat,” Yingling said in a news release.
The SBA is providing low-interest, long-term loans to assist small businesses during the pandemic. These loans can be up to $2 million for as long as 30 years, with rates at 3.75% for small businesses and 2.75% for nonprofits. More information and application forms can be found at�www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources.
via | Lake County Journal
April 2, 2020 at 02:07PM