SEATTLE, WA — Small companies in King County are eligible for federal catastrophe help loans in the event that they had been instantly financially impacted by “civil unrest” between May 26 and June 30, officers introduced Monday.
In line with the information launch, the catastrophe declaration was accepted on the request of the governor. King County stated greater than 50 companies had beforehand reported damages in the course of the timeframe.
The low-interest loans are distributed by the Small Enterprise Administration, and eligibility is decided by general monetary influence. In line with the county, bodily harm “will not be taken into consideration when calculating loss.”
Specifics of every loan are decided primarily based on the monetary situation of the borrower, and rates of interest are set at three p.c for small companies and a couple of.75 p.c for non-profits. Reimbursement phrases might be as much as 30 years.
Enterprise house owners can apply on-line till June 16, 2021. Those that need assistance with the applying course of can contact the Digital Enterprise Restoration Heart by e-mail till 5 p.m., seven days per week.