Help on the Way for Local Business Impacted by Coronavirus Outbreak
So far, most of the attention on the Coronavirus (COVID-19) outbreak has been on the medical and public safety aspects of this worldwide pandemic. But the economic fallout associated with this event has the potential to be quite devastating as well.
With that in mind, government leaders in South Dakota have begun work with the U.S. Small Business Administration to provide economic relief for businesses affected by the COVID-19 outbreak.
The program can provide up to $2 million in disaster assistance to a business with no upfront fees or early payment penalties charged by SBA. The repayment term is determined by a businesses' ability to repay the loan.
Affected small businesses and non-profits need to download, complete, and submit the SBA EIDL Worksheet to begin activation of the EIDL program. Completed forms may be submitted by email to email@example.com.
South Dakota currently has ten confirmed Coronavirus cases, including one death related to the outbreak.