Oroho, Space & Wirths Remind Business Owners About Small Business Administration Loan Programs
Senator Steve Oroho and Assemblymen Parker Space and Hal Wirths want to remind small business owners of a special loan program which is sponsored by the Small Business Administration (SBA).
All small business owners are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.
“These are extremely tough times for small business owners in Sussex, Warren, and Morris counties,” said Oroho (R-24). “These hard-working men and women need to look into programs that will help them out while we are in the emergency and until we get back to normal.”
The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide small business with vital economic support to help overcome the temporary loss of revenue they are experiencing.
“New Jersey is one of the hardest places to survive as a small business as it is and the coronavirus is now making it near impossible,” said Space (R-24). “It’s hard for people to grasp what it takes to own a business that you put your heart and soul into only to have an uncertain future, so is imperative that small business owners get support during these tough times.”
Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.
“We all know small businesses are the backbone of our small towns,” said Wirths (R-24). “The local businesses which are open need our commerce, and those that face temporary shutdowns don’t know how they will pay the bills. All business needs our support and fortunately we have this SBA program that can help.”
To apply, please go to https://covid19relief.sba.gov/#/. Senator Oroho and Assemblymen Space and Wirths also want to remind their constituents to check out their Facebook page for updates on state and federal government programs at https://www.facebook.com/NJ24th/.