The Small Business Association is offering long term, low interest loans to businesses who have to navigate through the Covid-19 crisis. The New Jersey Broadcasters Association, for which Coastal Broadcasting Systems is a member, has issued an alert for us to share to local businesses who may need help through these difficult times.
Here is the text of the alert:
Yet, even if your business has the comfort of financial security right now, you undoubtedly work with many small business advertisers in New Jersey that may be in need of urgent help to stay afloat. Please use and share the below information however useful.With so much uncertainty turning into financial concern, I want to make sure each of you is fully aware of the government’s new emergency program for COVID-19 loans.This new US government program requires each state to make an emergency declaration request to open up fund access. Governor Murphy has done so and I believe we are eligible.The program appears to offer up to $2 million in assistance for each business and can provide economic support to help overcome any temporary loss of revenue. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of COVID-19’s impact. The loans also appear to offer long-term repayment plans up to 30 years.This emergency program is run through the U.S Small Business Administration (SBA) and is called the SBA Economic Injury Disaster Loan. You can read more about the program – and file an application – at the below link: