Press Release

SBA Disaster Loan Webinar Information

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This webinar has already taken place, but the slide deck can be found below:

Click here for the presentation slides

or watch the recording here.

The WCOED has banded together with our economic development peers at the Tiffin-Seneca Economic Partnership to host a regional webinar this Friday, March 27th, at 10:00 am with Ray Graves, Lender Relations Specialist with the US Small Business Administration’s (SBA) Cleveland Office.

Lender Relations Specialist Ray Graves will provide an overview of the Economic Injury Disaster Loan program, talk about how to apply for one, and answer questions from webinar participants. Graves joined the Cleveland office of the SBA in 2013, and has been working to help businesses obtain SBA financing since 1999.

Thousands of Ohio companies are suffering because of the coronavirus pandemic. Ohio companies can now apply to the federal government for low-interest, long-term loan to help. The SBA Economic Injury Disaster Loan can provide up to $2 million in funding, with a term of up to 30 years. 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. Loan rates are expected to be 3.75% for businesses and 2.75% for non-profits with long-term repayments in order to keep payments affordable. Terms will be determined on a case by case basis.