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
Sponsored Content
Nov 19, 2025
The New Frontier of Jobsite Efficiency: How Flat-Packed Door Systems Are Transforming InstallsPre-hung doors have long been the default choice for builders and remodelers. But with their benefits, they also come with logistical downsides. More builders are turning to a new alternative: flat-packed, “knocked-down” door systems that ship efficiently and assemble cleanly on-site.
Advocacy
Nov 19, 2025
NAHB Offers Lawmakers Recommendations on National E-Verify SystemNAHB today offered Congress several recommendations to make a national E-Verify employment verification system workable for small businesses and members of the residential construction industry.
Latest Economic News
Economics
Nov 19, 2025
Affordability Impacts: Young Adults Are Once Again Moving Back HomeThe share of young adults living with parents increased in 2024, interrupting the post-pandemic trend of moving out of parental homes.
Economics
Nov 18, 2025
Location, Location, Location: How Place and Neighborhood Shape Home ValuesThe value of a single-family home depends not only on its physical features but also on its location and neighborhood context.
Economics
Nov 18, 2025
Builder Sentiment Relatively Flat in November as Market Headwinds PersistMarket uncertainty exacerbated by the government shutdown along with economic uncertainty stemming from tariffs and rising construction costs kept builder confidence firmly in negative territory in November.