WASHINGTON—Today the Small Business Administration (SBA) approved Ohio’s application to apply for Economic Injury Disaster Loan assistance. This will allow small businesses in Ohio adversely affected by the nationwide coronavirus outbreak to apply for low-interest loans of up to $2 million.

This is good news for Ohio’s numerous small businesses, many of which have been closed in an effort to curb the spread of the novel coronavirus, or COVID 19.

Upon hearing of the SBA’s decision, Congressman Warren Davidson (R-OH) said:

“As a former Ohio manufacturer, I’m encouraged by this swift decision from the Small Business Administration. I’m hearing from many business owners and employers who need the lifelines offered by the SBA. Without these loans, it would be nearly impossible for Ohio’s small businesses to make payroll or continue payments on mortgages or capital equipment.

Many Ohio entrepreneurs have answered the call and ceased operations to help prevent the spread of coronavirus, but they are going to need help to make it through this temporary hardship. America needs these businesses to stay afloat so that when this period passes, we can quickly restart the engine of the American economy.”

Since Congress is working on emergency legislation related to COVID 19, more flexible loans may become available through the SBA as early as next week. 

Ohioans can find more resources and information related to COVID 19 by visiting https://davidson.house.gov/covid-19.