Bishop Commends Disaster Aid Availability for NC Small Businesses

Washington, D.C.—Congressman Dan Bishop (NC-09) released the below statement regarding the Small Business Administration's decision to issue an Economic Injury Disaster Declaration for the state of North Carolina to help combat the coronavirus, or COVID-19.

"I applaud President Trump and the Small Business Administration for taking decisive action to protect small business owners." said Rep. Bishop. "As a member of the House Small Business Committee, I am pleased to see additional assistance to small businesses—the backbone of our economy—through the Economic Injury Disaster Loan program. As small business owners begin to seek assistance from SBA, my office is happy to provide any additional resources or information on how to receive this assistance."

Earlier this month, Congressman Bishop voted in favor of the Coronavirus Preparedness and Response Supplemental Appropriations Act of 2020, which allowed for $1 billion in loan subsidies be available so that SBA can issue up $7 billion in loans to small businesses affected by the coronavirus.

SBA is now eligible to make Economic Injury Disaster Loans to businesses in North Carolina. These loans will be available to small businesses, nonprofit organizations, and agricultural cooperatives, who are unable to meet their outstanding obligations and expenses. SBA can provide up to $2 million through EIDLs and the interest rate cannot exceed four percent per year.

Please visit https://disasterloan.sba.gov/ela/Information/ApplyOnline for information on how to apply for a disaster loan from the Small Business Administration. Further details on the loan application process can be obtained by calling the SBA Customer Service Center at 800-659-2955 or by sending an e-mail to disastercustomerservice@sba.gov.