Federal disaster relief approved for NC small businesses affected by coronavirus
The U.S. Small Business Administration granted a request Thursday made by Gov. Roy Cooper for federal relief for business owners who are facing economic losses due to the COVID-19 outbreak.
“Many small businesses are desperate right now and this SBA approval will help,” Cooper said. “Even more is needed and we will continue to push for additional assistance while we work to protect the health of North Carolinians.”
The approval allows small businesses to apply for low interest disaster relief loans.
Earlier this week, Cooper ordered gatherings in the state reduced to 100 people. Cooper’s administration and the Centers for Disease Control and Prevention recommends no more than 50 people gathered together.
Cooper also closed dine-in options at the state’s bars and restaurants.
Small businesses looking to apply for the low interest loans can visit disasterloan.sba.gov, call 1-800-659-2955 or email disastercustomerservice@sba.gov.
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Original story, March 16, 2020:
North Carolina’s governor is seeking federal relief for business owners facing economic losses related to the COVID-19 pandemic.
Gov. Roy Cooper requested Monday that the U.S. Small Business Administration grant a disaster declaration for those North Carolina business owners. While large gatherings of more than 100 people have been banned in the state, some businesses, like restaurants, are excluded from the ban.
“I’m asking the SBA for assistance so we can get relief to help business owners in our state weather the economic impacts of COVID-19,” Cooper said in a news release. “We know that the new Coronavirus is already impacting businesses and this financial assistance will help,” he said.
If the Small Business Administration grants the disaster declaration, impacted businesses statewide could receive disaster loans to help them pay operating expenses and other financial obligations. Called SBA Economic Injury Disaster Loans, Cooper asked for the SBA to grant them for a period going back to Jan. 31 and continuing indefinitely for COVID-19.
If granted, the declaration would provide disaster loans to impacted businesses to help fulfill financial obligations and operating expenses. The request is for assistance to affected businesses across the state.
“These economic injuries and losses to businesses have just begun and will continue through this crisis,” Cooper wrote in his letter to Kem R. Fleming, director of the SBA.
Cooper declared a state of emergency for North Carolina on March 10. There are more than 30 reported cases of coronavirus in the state.
This story was originally published March 16, 2020 at 1:59 PM with the headline "Federal disaster relief approved for NC small businesses affected by coronavirus."
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