{"id":15486,"date":"2020-03-21T08:00:20","date_gmt":"2020-03-21T13:00:20","guid":{"rendered":"http:\/\/www.paristn.net\/articles\/?p=15486"},"modified":"2020-03-21T01:35:38","modified_gmt":"2020-03-21T06:35:38","slug":"tennessee-gets-economic-injury-disaster-loan-declaration-from-united-states-small-business-administration","status":"publish","type":"post","link":"https:\/\/www.paristn.net\/articles\/2020\/03\/21\/tennessee-gets-economic-injury-disaster-loan-declaration-from-united-states-small-business-administration\/","title":{"rendered":"Tennessee gets Economic Injury Disaster Loan Declaration from United States Small Business Administration"},"content":{"rendered":"

\"TennesseeNashville, TN <\/strong>– On Friday, March 20th, 2020, Tennessee Governor Bill Lee announced that Tennessee has received a declaration for Economic Injury Disaster Loan assistance from the U.S. Small Business Administration in response to a request submitted on Wednesday, March 18th.<\/p>\n

\"Tennessee<\/a>

Tennessee Governor Bill Lee<\/p><\/div>\n

<\/p>\n

\u201cI applaud the efforts of the SBA in swiftly processing and approving Tennessee\u2019s request for Economic Injury Disaster Loan assistance,\u201d Governor Lee said.<\/p>\n

\u201cSmall businesses and nonprofits across the state are suffering greatly in the wake of this pandemic, and these loans will help overcome the temporary loss of revenue companies are experiencing during this difficult time,\u201d Governor Lee stated.<\/p>\n

Small businesses and nonprofit organizations that have suffered economic injury as a result of COVID-19 (Coronavirus) can apply for Economic Injury Disaster Loans of up to $2 million per applicant to help meet financial obligations and operating expenses which could have otherwise been met.<\/p>\n

The Economic Injury Disaster Loans are administered and processed through the SBA. Applicants may apply online, receive additional disaster assistance information and download applications at sba.gov\/disaster<\/a>.<\/p>\n

Applicants may also call SBA\u2019s Customer Service Center at 800.659.2955 or email disastercustomerservice@sba.gov<\/a> for more information on SBA disaster assistance.<\/p>\n

Interest rates for the loans are 3.75% for small businesses and 2.75% for nonprofit organizations. The loans can be used to pay fixed debts, payroll, accounts payable or other bills that can\u2019t be paid due to the disaster\u2019s impact.<\/p>\n

\u201cWe have been in contact with business and community leaders across the state who are concerned about the toll COVID-19 (Coronavirus) is placing on their businesses and workforce,\u201d TNECD Commissioner Bob Rolfe said. \u201cWe are pleased to see that these loans will act as a source of relief for so many of Tennessee\u2019s small businesses in the months ahead.\u201d<\/p>\n

The SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower\u2019s ability to repay.<\/p>\n

More than 94 percent of Tennessee\u2019s private sector business establishments have fewer than 50 employees. This represents 151,500 businesses that employ over one million Tennesseans.<\/p>\n

[320left]Employment has increased 13.6 percent at these establishments over the last five years, placing Tennessee in the nation\u2019s top 10 states for small business growth.<\/p>\n

Small businesses are encouraged to learn more about resources offered by the U.S. Small Business Administration at sba.gov<\/a>.<\/p>\n

Information about the SBA\u2019s District Office in Tennessee can be found here<\/a>.<\/p>\n

Up-to-date information on COVID-19 (Coronavirus) in Tennessee can be found here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nashville, TN – On Friday, March 20th, 2020, Tennessee Governor Bill Lee announced that Tennessee has received a declaration for Economic Injury Disaster Loan assistance from the U.S. Small Business Administration in response to a request submitted on Wednesday, March 18th.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[181],"tags":[12333,12675,12712,12787,549,284,4248,261,3350,3876],"class_list":["post-15486","post","type-post","status-publish","format-standard","hentry","category-government","tag-bill-lee","tag-coronavirus","tag-covid-19","tag-economic-injury-disaster-loans","tag-nashville","tag-nashville-tn","tag-sba","tag-tennessee","tag-tennessee-governor","tag-u-s-small-business-administration"],"_links":{"self":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/15486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/comments?post=15486"}],"version-history":[{"count":1,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/15486\/revisions"}],"predecessor-version":[{"id":15487,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/15486\/revisions\/15487"}],"wp:attachment":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/media?parent=15486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/categories?post=15486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/tags?post=15486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}