Tourism Businesses Can Apply for the SBA Disaster Assistance Loans

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:

  • Faster, easier qualification process: States are only required to certify that at least five small businesses have suffered substantial economic industry, regardless of where those businesses are located.
  • Expanded, statewide access: Disaster loans will now be available statewide following an economic injury declaration. This will apply to current and future disaster assistance declarations related to COVID-19.

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.

For more information, click here. To complete the estimated economic injury worksheet, click here. Please submit completed forms to the West Virginia Governor’s Office:

Attn: Ann Urling, Deputy Chief of Staff | 1900 Kanawha Blvd. E | Charleston, WV 25305

 

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