CLARKSBURG, W.Va. — The U.S. Small Business Administration offers low-interest federal disaster working capital loans to West Virginia small businesses suffering substantial economic injury as a result of the coronavirus.
The disaster declaration makes SBA Economic Injury Disaster Loans assistance available in the entire state.
Eligibility is based on the financial impact of the COVID-19.
The interest rate is 3.75% for small businesses and 2.75% for private nonprofit organizations.
SBA offers loans with long-term repayments, up to 30 years, in order to keep payments affordable.