As part of the Coronavirus Preparedness and Response Supplemental Appropriations Act the U.S. Small Business Administration (SBA) is offering all Ohio counties low-interest disaster loans for working capital to small businesses suffering economic injury. Eligible businesses can apply for an Economic Injury Disaster Loan in an amount lower that $2 million.


  • Ensure that your county is listed as a declared disaster zone
  • Small businesses and some private, non-profit organizations directly affected by the disaster
  • Businesses that offer services directly related to the businesses in the declaration
  • Other businesses indirectly related to the industry that may be harmed by losses in their community
  • Review the SBA’s size standards, these are measured based on revenue or number of employees

The following types of businesses are NOT eligible: Agricultural Enterprises, Religious Organizations, Charitable Organizations, Gambling Concerns, Casinos and Racetracks, and Real Estate Developers.

Loan Details

Loans can be used to pay fixed debts, payroll, accounts payable, and other bills that can’t otherwise be paid due to the disaster’s impact. This can include rent payments and possibly loan payments, but not to be used for refinancing other loans. If available, collateral will be required. Small business interest rates are 3.75 percent while non-profit organizations are 2.75 percent with terms up to 30 years.

Currently, there is no specific guidance that has been introduced as to the calculation of the amount of fixed expenses allowed. It has been indicated that a calculation through the end of the year isn’t unreasonable.

How To File Your Application

The Electronic Loan Application may be completed online or paper loan applications can be downloaded here. There is no cost to apply, no obligation to take the loan if offered, and the maximum unsecured loan amount is $25,000.

Find more details on SBA disaster assistance here and view other important updates due to the coronavirus here.

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