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SBA Offers Loans to Local Small Businesses

Small Business Owner Resources

Post Date:03/25/2020 8:34 AM

Local Business Assistance

Small Business Administration Loan: Resources are now available for small business owners dealing with the COVID-19 outbreak. The Small Business Administration (SBA) announced that Alaska businesses are eligible to apply for an Economic Injury Disaster Loan for COVID=19. Businesses can apply for the loan at the following link: SBA Loan Application

Applying for an SBA disaster loan is free and business owners are not obligated to close on the loan by just applying. Once an application is submitted, the process will take about three weeks. There is no prepayment penalty, so if the economic situation changes, borrowers can pay off the loan early to avoid interest. Current terms are up to 30 years at 3.75% interest for small businesses.

For assistance with the loan application, please contact the SBA Customer Service Center at 1-800-659-2955 or email disastercustomerservice@sba.gov

KPEDD Economic Impact of COVID-19 SurveyThe Kenai Peninsula Economic Development District (KPEDD) is currently collecting information to identify the economic impact COVID-19 is having on our businesses. This peninsula-wide confidential survey will be open to responses effective immediately and will close at midnight on Friday, March 27th. The survey is designed to identify the needs of the region and will be shared with state and federal governments. Participate in the survey at the following link: KPEDD Economic Impact Survey

Alaska Chamber of Commerce Economic Impact SurveyThe Alaska Chamber of Commerce is also conducting an Economic Impact Survey. This survey is open to all businesses, regardless of membership status. We encourage you to share the survey with other businesses in order to collect as much information as possible so that we can be helpful to all Alaskans. Please consider participating at the following link:  Alaska Chamber of Commerce Economic Impact Survey

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