What assistance is the Small Business Administration offering businesses during this COVID-19 crisis?
The President has authorized the SBA to provide low-interest loans directly to businesses to help offset the dip in cash flow (revenues) or other economic impact (supply chain costs, etc.) caused by the COVID-19 disruption. For this reason, the disaster loans to businesses are called Economic Injury Disaster Loans (EIDL) and these federal loans are designed to help negatively impacted organizations cover their monthly expenses - including commercial loan payments - in order to stay in business during this crisis. Click HERE to read the latest SBA Press Release.
The State of Kansas is collecting documentation from businesses impacted by the COVID-19 crisis to support its request to the SBA for an Economic Injury Disaster Loan Declaration.
Negatively impacted businesses should go to http://www.ksready.gov/
to complete the SBA Estimated Disaster Economic Injury Worksheet For Businesses as soon as possible.
When completing the form, businesses will need to indicate their County in the address section of the worksheet, and describe what adverse economic effects the COVID-19 crisis has had on the business in the Estimated Adverse Economic Impact section. Please specify the amount of diminished sales, supplier disruption, or other negative impacts from Jan. 31st until now. The form will need to be printed, completed, then scanned and emailed to firstname.lastname@example.org
at the Kansas Department of Commerce.
Once the disaster declaration for Kansas is finalized, small businesses in the state will be able to apply for assistance in the form of Economic Injury Disaster Loans (EIDL). Affected businesses and private nonprofit organizations may then go to www.sba.gov/disaster
and click on the “Apply for Assistance” button and then click on “Eligible Disaster Areas”. Select “Kansas” and your county. The most recent declaration will be at the top and that’s where you’ll find information on the COVID-19 EIDL Loans and be able to apply.