Gov. Parson works to activate disaster loans for small businesses
JEFFERSON CITY, Mo. (KFVS) -Governor Parson directed the Missouri State Emergency Management Agency and the Missouri Department of Economic Department to seek assistance for Missouri businesses.
Parson plans to use the U.S. Small Business Administration’s Economic Injury Disaster Loan program.
The SBA will offer targeted, low-interest, disaster recovery loans for Missouri small businesses that have been severely impacted by the coronavirus.
Through the program, businesses can receive up to $2 million in assistance.
The interest rate for small businesses will be 3.75 percent and 2.75 percent for non-profits.
Long-term repayment plans are also available.
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