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In the wake of Hurricane Beryl, the U.S. Small Business Administration is encouraging affected small businesses to apply for its Economic Injury Disaster Loans program, offering funds up to $2 million at 4% interest over 30 years. These loans can help businesses cover expenses like payroll, rent and debt repayments. Prompt application is critical, as prolonged closures drastically increase the risk of business failure.
To apply for the SBA’s Economic Injury Disaster Loan program, visit the SBA’s disaster assistance page.
By Rebecca Meiser
Contributor, Commerce + Communities Today and Small Business Center
ICSC champions small and emerging businesses in getting from business plan to brick-and-mortar.
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