Putnam County small businesses are eligible for up to $2 million in low-interest loans from the U.S. Small Business Administration to help alleviate the economic fallout from the coronavirus epidemic. County Executive MaryEllen Odell says Putnam is one of only three counties in New York State in which these Economic Injury Disaster loans from the SBA are available so far. Small business owners in Westchester and Dutchess can also apply.
The deadline to apply is December 16th.
Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus. The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela.