Yesterday, the U.S. Small Business Administration issued revised criteria for states seeking an economic industry declaration related to COVID-19. The relaxed criteria will have two immediate impacts:
With these changes in place, the SBA is looking for small businesses in and around the state that have suffered substantial economic industry as a result of COVID-19. Substantial economic industry occurs when a business is unable to meet its obligations as they mature or to pay its ordinal and necessary operating expenses.
Attn: Ann Urling, Deputy Chief of Staff | 1900 Kanawha Blvd. E | Charleston, WV 25305