I applaud the acceptance of New Jersey’s disaster declaration by the Small Business Administration (SBA), a move that will allow New Jersey businesses and non-profits hit by the coronavirus to apply for disaster assistance loans with deferred repayment and low interest rates.
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These loans offer up to $2 million in assistance for fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact with interest rates at 3.75% for small businesses and 2.75% for non-profits.
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