FILE - In this illustration provided by the Centers for Disease Control and Prevention (CDC) in January 2020 shows the 2019 Novel Coronavirus (2019-nCoV). This virus was identified as the cause of an outbreak of respiratory illness first detected in Wuhan, China. A woman in the San Francisco Bay Area who became ill after returning from a trip to China has become the ninth person in the U.S. to test positive for a new virus, health authorities said Sunday, Feb. 2, 2020. (CDC via AP, File)                                In this illustration provided by the Centers for Disease Control and Prevention (CDC) in January 2020 shows the 2019 Novel Coronavirus (2019-nCoV). (CDC via AP, File)

FILE - In this illustration provided by the Centers for Disease Control and Prevention (CDC) in January 2020 shows the 2019 Novel Coronavirus (2019-nCoV). This virus was identified as the cause of an outbreak of respiratory illness first detected in Wuhan, China. A woman in the San Francisco Bay Area who became ill after returning from a trip to China has become the ninth person in the U.S. to test positive for a new virus, health authorities said Sunday, Feb. 2, 2020. (CDC via AP, File) In this illustration provided by the Centers for Disease Control and Prevention (CDC) in January 2020 shows the 2019 Novel Coronavirus (2019-nCoV). (CDC via AP, File)

SBA offers loans for struggling businesses in wake of COVID-19

Business owners encouraged to take peninsula-wide survey

Small businesses shutting their doors, letting go of staff or struggling to hang on with take out and delivery service as the novel coronavirus spreads across Alaska can now get a leg up from the U.S. Small Business Administration.

The SBA announced in a Saturday press release that it is offering low-interest federal disaster loans to small Alaska businesses “suffering substantial economic injury” as a result of COVID-19. The deadline to apply for one of these loans is Dec. 21, 2020.

The federal administration is offering Economic Injury Disaster Loans of up to $2 million. Small businesses, private nonprofits, small agricultural cooperatives and small aquacultural enterprises can apply for assistance, according to the release. The SBA acted of its own authority to declare a disaster after getting a request from Gov. Mike Dunleavy on March 17, the release states.

“These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact,” SBA Administrator Jovita Carranza is quoted as saying in the release. “Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue they are experiencing.”

Eligibility for these loans will be determined by the financial impact of COVID-19, according to the release. The interest rate for small businesses is 3.75% and the interest rate for private nonprofits is 2.75%.

Applications for the loans can be downloaded at https://disasterloan.sba.gov/ela. Those wishing to apply can also call 800-659-2955 or email disastercustomerservice@sba.gov.

Finished applications can be sent to:

U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

In a move to support businesses on the Kenai Peninsula, the Kenai Peninsula Economic Development District has released a survey that aims to collect information and identify the impact COVID-19 is having on local businesses. Business owners are encouraged to take this confidential, peninsula-wide survey at https://bit.ly/2U9H31b. It closes on Friday, March 27.

The results will be shared and will be used to “identify the needs of the region for the state and federal governments,” according to a press release from the Homer Chamber of Commerce and Visitor Center, which shared news of the survey.

KPEDD also can assist with loans of up to $25,000 for businesses in need of a bridge loan to assist with immediate financial needs, according to a press release from the Homer Chamber.

For more information, contact KPEDD Executive Director Tim Dillon at tim@kpedd.org.

Reach Megan Pacer at mpacer@homernews.com.

More in News

Gov. Mike Dunleavy announces a tourism aid initiative during a press conference on Friday, April 9, 2021, at Wings Airways Hangar in Juneau, Alaska. Dunleavy was joined by officials and business owners, including Alaska Sen. Peter Micciche (left). (Governer’s Office/Kevin Goodman)
Dunleavy announces tourism aid initiative

Dunleavy said 1.3 million tourists were expected to come to Alaska via cruise ship before the COVID-19 pandemic shut down operations.

Commercial fishing and other boats are moored in the Homer Harbor in this file photo. (Photo by Michael Armstrong/Homer News)
Seawatch: Halibut season starts slow in Homer

The halibut season is off to a slow start in Homer, with… Continue reading

A Kelly Tshibaka campaign sign is seen inside of Nikiski Hardware & Supply on Friday, April 9 in Nikiski, Alaska. (Ashlyn O’Hara/Peninsula Clarion)
Tshibaka makes rounds on the peninsula

The former DOA head is challenging Sen. Lisa Murkowski for her Senate seat.

Homer News file photo
Homer High School.
School announcements

School district risk level update and upcoming events

Courtesy photo 
Dr. Cheryl Siemers, the new director of Kenai Peninsula College, is seen in this undated photo. She begins her term on Monday, June 21, 2021.
Cheryl Siemers to lead Kenai Peninsula College

Gary Turner is the current KPC director, and will be stepping down in June.

The Kenai Peninsula Borough School District Board of Education meets Monday, Feb. 1, 2021, at Kenai Central High School in Kenai, Alaska. (Photo by Ashlyn O’Hara/Peninsula Clarion)
School board kills efforts to phase out insurance benefits for board members

Members of the board receive a monthly stipend in addition to being eligible for district insurance.

Homer Flex High School Phoenix Award winner David Young holds his certificate on March 25, 2021, at Flex High School in Homer, Alaska. (Photo courtesy of Homer Flex High School)
Homer Flex Phoenix Award winner: David Young

Homer Flex School recently released its recipient of the Flex Phoenix Award… Continue reading

City of Homer staff hold a meeting in the Cowles Council Chambers at Homer City Hall in this undated photo. The chambers are being remodeled to allow COVID-safe public meetings. (Photo courtesy of City of Homer)
Council introduces ordinance prohibiting beach launches of Jet Skis

Council introduces ordinance to ban launching Jet Skis, other powerboats, from beaches.

COVID-19. (Image courtesy CDC)
Alaska alert level is higher than national average.

COVID-19 cases continue rising statewide and on the southern Kenai Peninsula. Statewide,… Continue reading

Most Read