Small Businesses Hurt by Coronavirus May Be Eligible for Low-Cost Loans
Congress passed an $8.3 billion legislative package on March 4 to help combat the coronavirus. The measure includes a provision that enables the Small Business Administration (SBA) to make an estimated $7 billion in low-cost loans to affected small businesses. The SBA can issue an Economic Injury Disaster Loan declaration upon the request of a state or territory governor. View more details here.
What businesses are eligible for Economic Injury Disaster Loans?
These loans are available to businesses that have suffered substantial economic injury, are unable to obtain credit elsewhere, and are defined as small by SBA size regulations. Loan proceeds can only be used for working capital necessary to enable the business or organization to alleviate the specific economic injury and to resume normal operations.
Small business owners that have been effected by the coronavirus are advised to visit the SBAs website for more information on how to apply for a disaster loan.
Latest from NAHBNow
Student Chapters | Workforce Development
Dec 18, 2025
NAHB Welcomes 24 New Student Chapters to Help Build the FutureNAHB is proud to welcome 24 new student chapters in 2025. These chapters were created to enhance students' educational experiences, increase their exposure to the home building industry and connect them with their local HBAs.
Advocacy
Dec 17, 2025
House Panel Approves Major Housing PackageIn a move that provides momentum for Congress to enact major housing legislation in early 2026, the House Financial Services Committee this week approved the Housing for the 21st Century Act. This bipartisan housing package takes much-needed steps toward addressing our nation’s critical lack of housing.
Latest Economic News
Economics
Dec 16, 2025
Job Market Shows Signs of Cooling in NovemberIn November, job growth slowed, and the unemployment rate rose to 4.6%, its highest level in four years. At the same time, job gains for the previous two months (August and September) were revised downward. The November’s jobs report indicates a cooling labor market as the economy heads into the final month of the year.
Economics
Dec 15, 2025
Builder Sentiment Inches Higher but Ends the Year in Negative TerritoryBuilder confidence inched higher to end the year but still remains well into negative territory as builders continue to grapple with rising construction costs, tariff and economic uncertainty, and many potential buyers remaining on the sidelines due to affordability concerns.
Economics
Dec 11, 2025
Homeownership Rate Inches Up to 65.3%The latest homeownership rate rose to 65.3% in the third quarter of 2025, according to the Census’s Housing Vacancy Survey (HVS).