SBA Receives Additional Disaster Relief Funds

There is still help on the way for small businesses impacted by August’s floods.
The U.S. SBA announced $2.2 billion funding available for small businesses recovering from natural disasters under the American Relief Act.
President Biden signed the bill into law Dec. 21.
In October SBA exhausted its funding allocations for new disaster loans, however they continue to take in new applications.
The additional funds allow SBA Connecticut’s district office to approve additional loans related to the Aug. 18 storm.
The storm led to extensive flooding and widespread damage, particularly in Litchfield, New Haven, and Fairfield counties.
SBA previously approved $9 million for Connecticut.
Applications for SBA loans remain open for physical damages until Jan. 19 and economic injury claims until June 20.
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