Small businesses can apply for COVID-19 disaster relief loans through Dec. 31

Local News

The City of Muscatine is reminding small businesses impacted by the pandemic that they have until the end of the month to apply for COVID-19 Economic Injury Disaster Loan funds.

Applications will be accepted by the U.S. Small Business Administration (SBA) through Friday, Dec. 31.

“This federal small business loan program supports small businesses’ recovery from the COVID-19 disaster’s economic impact by providing accessible and borrower-friendly capital,” a news release says.

The loan is low-interest with a fixed 3.75% rate and loan term repayment of 30 years.

“Proceeds provide working capital to meet operating expenses — including payroll, rent/mortgage, utilities and other ordinary business expenses — and to pay business debt incurred at any time (past present or future),” a news release says.

Learn more about the application process and apply for the loan here.

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