SBA to Provide Small Businesses Impacted by Coronavirus Up to $2 Million in Disaster Assistance

Thursday, March 19, 2020

Pennsylvania & Delaware County Businesses Now Eligible to Apply for SBA’s Economic Injury Disaster Loans

For businesses attempting to apply for the SBA’s Economic Injury Disaster Loans:

PA & DE have now been declared eligible disaster areas and can now begin the application process.

The following link continues to be the most efficient way to begin the application process:

https://www.sba.gov/funding-programs/disaster-assistance

Please note that Certified Development Companies like Seedcopa are not authorized to administer these loans. Should this change, Seedcopa will be sure to update you.

Benefits of the loan program continue to change, even as the White House and Congress continue to review options for small businesses. As of today, we do know that collateral will be required on larger loans and the program historically has a 5-month payment deferment available. We’ll continue to keep you updated.

The team at Seedcopa + SeedcoDE is serving you remotely. For up-to-the-minute developments, please visit our COVID-19 Small Business Toolkit and follow us on social media.


Tuesday, March 17, 2020

For businesses attempting to apply for the SBA’s Economic Injury Disaster Loans, please be aware that the system is experiencing an influx of requests that can slow the application process. The following link continues to be the most efficient way to begin the application process, and Seedcopa + SeedcoDE is recommending it to borrowers:

https://www.sba.gov/funding-programs/disaster-assistance

As of this writing, Pennsylvania and Delaware have not been declared to be eligible disaster areas yet, but applications are in process.

Certified Development Companies like Seedcopa are not authorized to administer these loans. Should this change, Seedcopa will be sure to update you.

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