Last week, Congress passed, and the president signed, the third and largest bill in response to the COVID-19 pandemic. A large part of this bill was centered around creating new ways to support small businesses that may be negatively impacted by the slowing economy amid the crisis.
A key part of these efforts is the U.S. Small Business Administration’s Economic Injury Disaster Loan Program. These low-interest loans allow the nation’s small businesses to receive a loan of up to $10,000 and working capital loans up to $2 million.Once the loan application is completed and approved, funds may be available in as soon as three days.
Together, NGWA and the Water Systems Council know many in our industry are small business owners and, while we are thankful that our industry is still operating during this pandemic, we understand that the COVID-19 pandemic may impact your businesses in various ways. If you need financial assistance at this time to keep your business operating, please consider using this resource.
While many of us may not require these loans, we are providing this information for you to share with those in your community who may need further assistance. We know that you, our members, are actively involved in your communities and we encourage you to share this information with others who may need it. Thanks to our friends at WSC for their assistance in providing this information.
More resources on small business loans and further federal assistance include —
In addition, NGWA will continue to keep you informed and encourages you to visit the COVID-19 news and resources section on our website.