Governor Tate Reeves requested a disaster declaration by the U.S. Small Business Administration on Tuesday, March 17, 2020.
This request will provide low-interest, Economic Injury Disaster Loans to small businesses and non-profits that have been severely impacted by the Coronavirus (COVID-19). The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
You must provide the request to your county emergency management agency. You can find your county EMA contact information at this link https://www.msema.org/county-ema/. Your county emergency management agency should then submit to the MEMA State Coordinating Officer, Todd DeMuth, at email@example.com. The Mississippi Emergency Management Agency will then hand over to the Small Business Administration.
“Our county emergency management directors are working tirelessly with our small businesses across the state to ensure they suffer as little as possible during this pandemic. We urge small businesses to work quickly and efficiently to turn in their paperwork to our agency,” says MEMA Director Greg Michel.
The links below will take you to the required worksheet and instructions.
Also, on March 18, the Senate approved and the President signed the Families First Coronavirus Response Act (H.R. 6201), which is Phase Two of Coronavirus efforts. This requires small employers (<500 employees) to offer paid sick leave for Coranivrus-relaties issues, with a 100% reimbursement from the federal government.