JACKSON, Miss. (WLBT) - Governor Tate Reeves requested a disaster declaration from the U.S. Small Business Administration (SBA) to aid small businesses and their employees being impacted by the COVID-19 outbreak.
Tuesday, Governor Reeves sent a letter to SBA Director Kim Fleming to make loans available for affected businesses through the Economic Injury Disaster Loan program.
“Mississippians are resilient, but they shouldn’t have to weather this storm alone. Small businesses and their employees are the backbone of our state’s economy and deserve a helping hand during this trying time. We are working closely with the U.S. Small Business Administration to activate the Economic Injury Disaster Loan program so we can protect our small businesses and their communities,” said Governor Tate Reeves.
The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
Each county emergency management agency can provide copies of the SBA Economic Injury Disaster Loan. That paperwork will then be submitted to the Mississippi Emergency Management Agency (MEMA) to hand over to SBA.