JACKSON — on Friday, Gov. Tate Reeves announced disaster assistance for Mississippi small businesses and their employees impacted by the current outbreak of COVID-19.
Reeves sent a letter to the U.S. Small Business Administration two days ago requesting an Economic Disaster Declaration to aid small businesses and their employees, which was approved on Friday, March 20, 2020.
All Mississippi businesses and non-profits that are severely impacted by COVID-19 pandemic are eligible to apply for low-interest federal disaster loans. These businesses can apply for up to $2 million in working capital that can provide vital economic support to help overcome the temporary loss of revenue that they are experiencing as a result of the COVID-19 pandemic.
Small business owners can begin the process immediately and apply for assistance by visiting this link: sba.gov/disaster
Additionally, the SBA offers a three-step process for disaster loans, which is explained further here: disasterloan.sba.gov/ela/Documents/Three_Step_Process_SBA_Disaster_Loans.pdf