Rep. Abigail Spanberger today announced that the SBA has reopened the Economic Injury Disaster Loan program for all 10 counties in Virginia’s Seventh District.
Central Virginians are encouraged to apply online at covid19relief.sba.gov/#. Applicants should direct questions to the SBA disaster assistance customer service center at (800) 659-2955 or email [email protected] or call the SBA’s Richmond District Office at (804) 771-2400.
“Although restrictions are gradually being lifted, the economic anxiety for small business owners is far from over. Restaurant owners, retail proprietors, gig workers, and independent contractors are making difficult decisions about how best to protect their employees and customers from COVID-19 while also reengaging their local economy. Unfortunately, the precautions that grant peace of mind to potential patrons often represent a costly investment on the part of business owners at a time when margins are tighter than ever before,” said Spanberger.
“The SBA’s decision to reopen the EIDL program is welcome news for our small business owners, and I encourage all who need assistance after three months of closures to take advantage of this opportunity. The same entrepreneurs who are eligible for EIDL are the neighbors who form the backbone of Virginia’s economy, and I’ll continue fighting to make sure that business owners have the information and flexibility they need to weather COVID-19 and the subsequent economic crisis.”
The application process is open to independent contractors, gig workers, freelancers, sole proprietorships, farmers and other agribusiness owners, and small businesses with fewer than 500 employees.
The eligibility requirements for independent contractors have been expanded since the last round of assistance.
EIDL loans and grants have been made available once again to every county in the Commonwealth of Virginia. Loans may be used to pay fixed debts, payroll, accounts payable, or other expenses that businesses are unable to meet due to the pandemic.
Loans are offered with favorable terms, repayable in up to 30 years – grants do not have to be repaid.
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