Alaska Small Businesses Now Eligible for Federal Disaster Loans

Date: March 23, 2020

Alaska Small Business Owners Can Now Apply for SBA loans.

Alaskan small businesses that are suffering economic injury from the coronavirus can now apply for the U.S. Small Business Administration’s (SBA) low-interest federal disaster loans for working capital.

The SBA Economic Injury Disaster Loan program is now open to Alaska small businesses after Gov. Mike Dunleavy requested the SBA to declare a disaster in Alaska. 

SBA Economic Injury Disaster Loans offer up to $2 million in assistance for small businesses that are experiencing temporary loss of revenue. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that cannot be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere. SBA offers loans with long-term repayments to keep payments affordable.

Businesses interested in applying for an Economic Injury Disaster Loan can apply directly to SBA here. 

You can contact the SBA disaster assistance customer service center at 1-800-659-2955 or [email protected]

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