SCORE TC Announces SBA Loan Availability for Small Businesses
Due to the disruptions to regular business activity caused by COVID-19, SCORE Traverse City is here to assist any business that needs information regarding an SBA Disaster Loan. Eligible businesses may qualify for a loan of up to $2 million.
Eligibility requirements include small businesses, small agricultural cooperatives, small aquaculture businesses and most private non-profit organizations. Important considerations for loan approval include credit history as well as repayment ability. Additionally, the applicant business must be physically located in a declared county and suffered working capital losses due to the declared disaster, COVID-19.
If you would like to talk to a SCORE Mentor regarding this loan program, click here to schedule a mentoring session or call (888) 796-4913.
View the requirements and download the application HERE.