May 21, 2020
The COVID-19 pandemic threatens the survival of small businesses as it disrupts revenue and increases costs of operations. The U.S. Small Business Administration now directly lends money to small businesses to meet working capital needs through the Disaster Assistance Loan program. The Capital Innovation & Technology Institute has published a guide to assist small businesses in raising money through application to this program.
Small businesses may now borrow up to $2 million at 3.75 percent interest for up to 30 years from the SBA.