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Business Consumer Alliance Blog

Disaster Recovery Aid Available to Small Businesses During COVID-19 Pandemic

emergency disaster loan

Small businesses and private, non-profit organizations in all states and territories of the United States are currently eligible to apply for a low-interest loan due to COVID-19. The U.S. Small Business Administration's (SBA) Economic Injury Disaster Loans offer up to $2 million in assistance for each affected small business. These loans can help support small businesses to overcome temporary loss of income during the Coronavirus pandemic. Businesses can apply for relief at

The SBA’s Office of Disaster Assistance will coordinate with the state’s or territory’s Governor to submit the request for Economic Injury Disaster Loan assistance and the assistance will be made available to the affected small business. The loans may be used to pay:

  • fixed debts;
  • payroll;
  • accounts payable and other bills that can’t be paid because of the disaster’s impact.

The interest rate for Economic Injury Disaster Loans is 3.75 for small businesses and 2.75 for non-profits and come with long-term repayments—up to a maximum of 30 years—in order to keep payments affordable. The loan terms are determined on a case-by-case basis, based upon each borrower’s ability to repay. For additional information, visit the SBA disaster assistance website at or call the SBA Disaster Assistance Customer Service Center at 1-800-659-2955.

Other Assistance Available

Business interruption insurance or business income coverage can come in handy at this time. It is typically part of a business owner’s insurance policy. Check your policy to see if you are covered.

Many state and local municipalities are adding programs to aid businesses during this emerging crisis. Check with your governor’s office for available resources. Here is a list of some of the funds currently available:

San Francisco’s COVID-19 Small Business Resiliency Fund

Los Angeles City Small Business Emergency Microloan Program

Denver Small Business Emergency Relief Program

Florida Small Business Emergency Bridge Loan Program

Chicago Small Business Resiliency Fund

Michigan Small Business Relief Program

NYC Employee Retention Grant Program

Beaverton Emergency Business Assistance Program

Hillsboro Small Business Emergency Relief Program

If you know of any relief programs available in your area, let us know by leaving a comment below. Together we can get through this situation and come back stronger than ever.

About Business Consumer Alliance Business Consumer Alliance (BCA) is a non-profit company that started in 1928. The broad purpose of BCA is to promote business self-regulation. BCA's mission is achieved by assisting consumers in resolving complaints with businesses and using that complaint information, along with other relevant information such as customer reviews, to forecast business reliability. With community support, BCA can identify trustworthy and ethical businesses and warn the public to avoid unscrupulous businesses whose purpose is to defraud the marketplace. BCA also helps businesses promote themselves by providing services and tools to protect their business and reach out to their customers. BCA obtains its funding from member businesses who support the mission and purpose of the organization and who agree to abide by high standards of ethical business practices.