Gov. Parson to activate disaster loans for small businesses
JEFFERSON CITY - Missouri businesses will receive financial assistance amid the COVID-19 crisis, according to a statement from the office of Governor Mike Parson.
According to a press release, Parson directed the Missouri State Emergency Management Agency and the Missouri Department of Economic Development ask for help from the U.S. Small Business Administration's Economic Injury Disaster Loan program.
Through the SBA-administered program, businesses can get up to $2 million in assistance. They could then use the money for fixed debt payments, payroll and other bills.
The statement said that SBA help plans to offer long-term repayment plans to targeted, low-interest disaster recovery loans for Missouri small businesses.