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

Coast Guardsmen and state employees load the Together Tree bound for the Alaska Governor’s Mansion on a truck on Nov. 29, 2021 after the Coast Guard Cutter Elderberry transported the tree from Wrangell. (USCG photo / Petty Officer 2nd Class Lexie Preston)
Governor’s mansion tree arrives in Juneau

No weather or floating lines could stay these Coast Guardsmen about their task.

The Kenai Community Library health section is seen on Tuesday, Oct. 26, 2021. The Kenai City Council voted during its Oct. 20 meeting to postpone the legislation approving grant funds after members of the community raised concerns about what books would be purchased with the money, as well as the agency awarding the grant. The council will reconsider the legislation on Wednesday, Dec. 1, 2021. (Camille Botello/Peninsula Clarion)
Kenai council to consider library grant again

The council earlier voted to postpone the legislation after concerns were raised about what books would be purchased.

EPA logo
Alaska Native group to receive EPA funds for clean water projects

The agency is handing out $4.3 million to participating tribal organizations nationwide.

fund
Study: PFD increases spending on kids among low-income families

New study looks at PFD spending by parents

Image via the Alaska Department of Environmental Conservation
Nikiski soil treatment facility moves ahead

The facility, located at 52520 Kenai Spur Highway, has drawn ire from community residents.

Commercial fishing and other boats are moored in the Homer Harbor in this file photo. (Photo by Michael Armstrong/Homer News)
Seawatch: Bycatch becomes hot issue

Dunleavy forms bycatch task force.

Rep. Chris Kurka, R-Wasilla, leaves the chambers of the Alaska House of Representatives on Friday, March 19, 2021, after an hour of delays concerning the wording on his mask. On Monday, Kurka announced he was running for governor in 2022. (Peter Segall / Juneau Empire)
Wasilla rep announces gubernatorial bid

Kurka said he was motivated to run by a sense of betrayal from Dunleavy.

The Joint Base Elmendorf-Richardson star is Illuminated on the side of Mount Gordon Lyon on Wednesday, Sept. 11, 2019, just east of Anchorage, Alaska, in observation of the 18th anniversary of the terrorist attacks. A crew from the base went to light the 300-foot wide holiday star, but found that only half of the star’s 350 or so lights were working, the Anchorage Daily News reported. Airmen from the 773rd Civil Engineer Squadron Electrical Shop haven’t been able to figure out what was wrong and repair the lights, but they plan to work through the week, if necessary, base spokesperson Erin Eaton said. (Bill Roth/Anchorage Daily News via AP)
Avalanche delays holiday tradition in Alaska’s largest city

ANCHORAGE — A holiday tradition in Alaska’s largest city for more than… Continue reading

AP Photo/Gregory Bull,File
In this Saturday, Jan. 18, 2020, photo, George Chakuchin, left, and Mick Chakuchin look out over the Bering Sea near Toksook Bay, Alaska. A federal grant will allow an extensive trail system to connect all four communities on Nelson Island, just off Alaska’s western coast. The $12 million grant will pay to take the trail the last link, from Toksook Bay, which received the federal money, to the community of Mertarvik, the new site for the village of Newtok. The village is moving because of erosion.
Federal grant will connect all 4 Nelson Island communities

BETHEL — A federal grant will allow an extensive trail system to… Continue reading

Most Read