Loan Assistance to be offered for small business amid COVID-19 outbreak

By Dylan Smith, Managing Editor • dylan@southerntorch.com

SCOTTSBORO, Ala. — According to Senator Steve Livingston, Governor Ivey is in the process of certifying the State of Alabama in order for businesses to be able to apply for Economic Injury Disaster Loans with the Small Business Administration.

Once the state becomes certified, affected businesses may apply for low-interest loans online at www.sba.gov/coronavirus. The loans aimed at assisting small businesses during the COVID-19 pandemic have a one-year deferment on repayments.

Sen. Livingston suggested that companies whose business activities have been disrupted due to the coronavirus outbreak may contact the Small Business Advocacy Department of the Alabama Department of Commerce. The department may be reached at 1-800-248-0033 or www.madeinalabama.com.

Mountain Lakes Chamber of Commerce President Rick Roden says the chamber is working diligently to update local businesses regarding assistance opportunities being offered by the state and federal government.