Supporting our local business during this challenging time is of utmost importance for the Greater East Aurora Chamber of Commerce.
With that in mind, we have created this page to keep you updated on resources available to business owners through the Small Business Administration (SBA).
SBA Economic Injury Disaster Loans
SBA Administrator Jovita Carranza has approved a statewide disaster declaration for NY. Eligible small businesses may now apply for SBA Economic Injury Disaster Loans (EIDL) online at https://disasterloan.sba.gov/ela.
This press release will outline the details on the governor’s certification that makes SBA assistance available for the entire state.
Eligibility for Economic Injury Disaster Loans (EIDL) is based on the financial impact of the Coronavirus (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent.
SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship.
Please review the U.S. Small Business Administration Fact Sheet – Economic Injury Disaster Loans, which contains important information about the declaration and EIDL requirements.
UPDATE: SBA EIDL Loan
The SBA recently released some updated information regarding the EIDLs. To review this new information, please view the following SLIDE SHOW.
How to apply
Eligible small businesses may apply for SBA Economic Injury Disaster Loans (EIDL) online at https://disasterloan.sba.gov/ela.
Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email email@example.com for more information on SBA disaster assistance.
Individuals who are deaf or hard-of-hearing may call (800) 877-8339.
Businesses can take advantage of free assistance offered by SBA’s network of Resource Partners for help with preparing their loan applications.
You may visit www.sba.gov/local-assistance to find local help. The NYS Small Business Development Center network recommends submitting a request for assistance online at http://nyssbdc.org/appointment.html.
For additional information, visit our local SBA District Office’s website at www.sba.gov/offices/district/ny/buffalo
ESD is offering links to resources regarding SBA Disaster Relief Loans including a link to the SBA application, an ESD presentation on the loans, and the NYS Declaration Fact Sheet online at esd.ny.gov/resource-guide-covid-19-sba-disaster-loans
Essential Business Listing
Empire State Development has now posted guidance intended to assist businesses in determining whether they are an essential business and steps to request such designation which can be viewed here: https://esd.ny.gov/guidance-executive-order-2026.
Additional questions not related to COVID-19 can continue to be viewed on ESD’s website here: https://esd.ny.gov/esd-covid-19-related-resources.