How Nevada Small Business Owners Can Access SBA Disaster Loans

Date: March 18, 2020

Five counties are eligible for federal assistance

Gov. Steve Sisolak applied for a Small Business Association Economic Injury Disaster Loan Declaration. This loan will be offered by the U.S. Small Business Association to designated states and will provide low-interest federal disaster loans to small businesses suffering economic injury as a result of the coronavirus.

SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance to pay fixed debts, payroll, accounts payable, and other bills that cannot be paid because of the disaster’s impact. The interest rate for small businesses is 3.75% and for non-profits is 2.75%. These loans have long-term repayment options in order to keep payments affordable, with a maximum of up to 30 years. Repayment terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.

Since this application has been approved, small-business owners in the counties below will have access to the loans. To determine eligibility and apply, please visit https://disasterloan.sba.gov/ela/.

The following counties have been approved to receive disaster loan assistance:

  • Clark
  • Douglas
  • Elko
  • Nye
  • Washoe

Further Information

NFIB will continue to pass information along to Nevada small businesses as it becomes available. Please do not hesitate to reach out to State Director Randi Thompson at [email protected]

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