The coronavirus pandemic is wreaking havoc with businesses of every size and type. If yours is one of them and you're struggling to meet your obligations, you might be eligible for a loan through the Small Business Administration (SBA) or other organization.
Here's what you need to know.
Basic Application Requirements Still Apply
In a recent blog on coronavirus preparedness, our colleague Andy Hale mentioned the new low-interest SBA loans that have become available. These Economic Injury Disaster Loans, which the SBA is offering in conjunction with state governors, can provide distressed businesses up to $2 million in working capital.
Although the SBA is expediting assistance through a streamlined three-step application process, you'll still need to provide some basic financial information, including: