A disaster declaration for New York State was approved last week, the disaster declaration makes U.S. Small Business Administration assistance available in the entire state of New York. Eligible small businesses may now apply for SBA Economic Injury Disaster Loans online at https://disasterloan.sba.gov/ela.
Part of an SBA funded program, the UAlbany Small Business Development Center, is offering application assistance and is hosting informational online webinars. You can make an appointment, register for an upcoming live online information session or contact the SBDC for more information by calling (518) 380-5077 or use its online forms here.
In case you weren't able to attend a recent online session or if you would like to refer back, a recording is available here, or click below. More live sessions will be made available by the SBDC.
The SBA's Economic Injury Disaster Loan Program is the SBA's first response to addressing the COVID-19 pandemic. This is the item in its toolbox that it can initiate and deploy without legislation. It's designed to keep businesses afloat until a federal response that is determined by legislation can be put into action. There is no charge to apply, it's encouraged that business owners apply, applications are reviewed in the order received and if you don't apply you can't receive the loan funds. Owners will have time to decide on accepting the loan or not after their application is approved.