{"id":12000,"date":"2020-03-15T17:22:00","date_gmt":"2020-03-15T15:22:00","guid":{"rendered":"https:\/\/www.become.co\/blog\/?p=12000"},"modified":"2020-03-18T17:01:41","modified_gmt":"2020-03-18T15:01:41","slug":"trump-authorizes-sba-loans-for-businesses-impacted-by-coronavirus","status":"publish","type":"post","link":"https:\/\/www.become.co\/blog\/trump-authorizes-sba-loans-for-businesses-impacted-by-coronavirus\/","title":{"rendered":"Trump authorizes SBA loans for businesses impacted by coronavirus"},"content":{"rendered":"\n<p>\u201cEffective immediately the SBA will begin providing economic loans in affected states and territories. These low-interest loans will help small businesses overcome temporary economic disruptions caused by the virus\u201d, Trump announced in a speech on March 11, 2020.<\/p>\n<p>Now that the government is pumping an additional $50 billion into the Small Business Administration, relief is well on its way for business owners suffering from the effects of the coronavirus outbreak.<\/p>\n<p><b>Details of <\/b><a href=\"https:\/\/www.become.co\/blog\/coronavirus-sba-loans\/\"><b>coronavirus SBA loans<\/b><\/a><b> are as follows:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\">Designed to provide necessary working capital to help small businesses survive until normal operations resume<\/li>\n<li style=\"font-weight: 400;\">Loan amounts cap out at $2 million<\/li>\n<li style=\"font-weight: 400;\">Low-interest rates at 3.75%<\/li>\n<li style=\"font-weight: 400;\">Loan terms of up to 30 years<\/li>\n<\/ul>\n<p>Since these loans are specifically designed for businesses that are in the most need, the SBA is requiring applications for approval on a state-by-state basis.<\/p>\n<p><b>Areas eligible for coronavirus SBA loans:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\">California<\/li>\n<li style=\"font-weight: 400;\">Connecticut<\/li>\n<li style=\"font-weight: 400;\">Maine<\/li>\n<li style=\"font-weight: 400;\">Washington (state)<\/li>\n<\/ul>\n<p>Stay tuned-in here for updates about which states have been approved for emergency coronavirus business loans through the SBA.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cEffective immediately the SBA will begin providing economic loans in affected states and territories. These low-interest loans will help small businesses overcome temporary economic disruptions caused by the virus\u201d, Trump announced in a speech on March 11, 2020. Now that the government is pumping an additional $50 billion into the Small Business Administration, relief is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12000","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Trump authorizes SBA loans for businesses impacted by coronavirus - Business Funding Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.become.co\/blog\/trump-authorizes-sba-loans-for-businesses-impacted-by-coronavirus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump authorizes SBA loans for businesses impacted by coronavirus - Business Funding Blog\" \/>\n<meta property=\"og:description\" content=\"\u201cEffective immediately the SBA will begin providing economic loans in affected states and territories. 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Now that the government is pumping an additional $50 billion into the Small Business Administration, relief is [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.become.co\/blog\/trump-authorizes-sba-loans-for-businesses-impacted-by-coronavirus\/\" \/>\n<meta property=\"og:site_name\" content=\"Business Funding Blog\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-15T15:22:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-03-18T15:01:41+00:00\" \/>\n<meta name=\"author\" content=\"Become\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Become\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.become.co\/blog\/trump-authorizes-sba-loans-for-businesses-impacted-by-coronavirus\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.become.co\/blog\/trump-authorizes-sba-loans-for-businesses-impacted-by-coronavirus\/\"},\"author\":{\"name\":\"Become\",\"@id\":\"https:\/\/www.become.co\/blog\/#\/schema\/person\/813104bb9784ace7d518254945f76ccf\"},\"headline\":\"Trump authorizes SBA loans for businesses impacted by coronavirus\",\"datePublished\":\"2020-03-15T15:22:00+00:00\",\"dateModified\":\"2020-03-18T15:01:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.become.co\/blog\/trump-authorizes-sba-loans-for-businesses-impacted-by-coronavirus\/\"},\"wordCount\":170,\"publisher\":{\"@id\":\"https:\/\/www.become.co\/blog\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.become.co\/blog\/trump-authorizes-sba-loans-for-businesses-impacted-by-coronavirus\/\",\"url\":\"https:\/\/www.become.co\/blog\/trump-authorizes-sba-loans-for-businesses-impacted-by-coronavirus\/\",\"name\":\"Trump authorizes SBA loans for businesses impacted by coronavirus - Business Funding Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.become.co\/blog\/#website\"},\"datePublished\":\"2020-03-15T15:22:00+00:00\",\"dateModified\":\"2020-03-18T15:01:41+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.become.co\/blog\/trump-authorizes-sba-loans-for-businesses-impacted-by-coronavirus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.become.co\/blog\/trump-authorizes-sba-loans-for-businesses-impacted-by-coronavirus\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.become.co\/blog\/trump-authorizes-sba-loans-for-businesses-impacted-by-coronavirus\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.become.co\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Trump authorizes SBA loans for businesses impacted by coronavirus\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.become.co\/blog\/#website\",\"url\":\"https:\/\/www.become.co\/blog\/\",\"name\":\"Become - Powering Small Business Funding\",\"description\":\"Become - Powering Small Business Growth &amp; 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