2600 6th St. NW, Room 128 Washington DC 20059

(202) 806-1550

Mayor Muriel Bowser announced on March 17, 2020 that the U.S. Small Business Administration (SBA) accepted the District of Columbia’s declaration for assistance in the form of economic injury disaster loans following the advent of the novel coronavirus (COVID-19). DC businesses can apply for this assistance now. While the SBA directly administers this loan program, the Department of Small and Local Business Development (DSLBD), led by Director Kristi Whitfield, will liaise with the SBA on behalf of the District of Columbia.

ELIGIBLE ENTITIES:

INELIGIBLE ENTITIES:

Agricultural Enterprises: If the primary activity of the business (including its affiliates) is as defined in Section 18(b)(1) of the Small Business Act, neither the business nor its affiliates are eligible for EIDL assistance.

LOAN APPROVAL CRITERIA:

HOW MUCH YOU CAN BORROW:

HOW THE FUNDS CAN BE USED:

These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits or for expansion. Funds cannot be used to pay down long-term debt.

WHAT IS NEEDED TO APPLY:

OTHER INFORMATION THAT MAY BE REQUESTED:

HOW SOON WILL BUSINESSES RECEIVE MONEY:

RECOMMENDATIONS:

As you consider applying for the different funding sources the Federal Government is offering to businesses, please keep the following information in mind as you make the best choices for your situation:

1) Federal funds often come with restrictions. If you accept funding or receive approval from one program, this may cause you to be fully or partially ineligible for other Federal funding.

2) Federal funding often rolls out in phases and can take many forms: Loans, Grants, etc.

3) We are not currently aware of specific federal grants that are being offered at this time for business disaster recovery, but grants may become available later with specific requirements that will be determined at that time.

Our intent is to make you aware of any new offerings as soon they become available and to act as your partner to help guide you through this.

Apply For Microgrant: https://bit.ly/DCSmallBiz_RecoveryGrants

 

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