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Loans now available to Arizona small businesses hit hard by coronavirus

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Posted at 11:31 AM, Mar 20, 2020
and last updated 2020-03-20 14:31:59-04

Arizona small businesses hurt by the coronavirus pandemic can apply for up to $2 million each in loans from the U.S. Small Business Administration now that the agency has accepted the state’s disaster declaration request.

Arizona’s Economic Injury Disaster Loan declaration was approved by the SBA on Thursday after Gov. Doug Ducey submitted a letter requesting federal assistance on March 16.

“Business across the state have already experienced significant economic losses and are anticipated to continue to lose revenue due to this pandemic,” Ducey said in his letter.

Businesses can apply for loans through the SBA website at SBA.gov/disaster.

Read more from the Phoenix Business Journal.