SBA Provided with Federal Funding to Assist with COVID-19 Impact

On March 6, President Donald Trump signed legislation (H.R. 6074) providing $8.3 billion additional federal funds to address the COVID-19 outbreak. The bill includes emergency loans to assist small businesses that suffer economic damage from the spread of the virus. Under the new law, the Small Business Administration (SBA) could provide up to $7 billion in loans to help small businesses, nonprofit organizations, and other entities that have been affected by financial losses as a result of the coronavirus outbreak.

As the SBA provides guidance on this expanded loan program, we will update this notice at NAMM.org

Information on disaster assistance may be found at: www.sba.gov/funding-programs/disaster-assistance.