The Small Business Administration has seen an “unprecedented amount of activity” as business owners hit by the economic fallout of the novel coronavirus have sought help from the agency — and that has meant the loan assistance website has crashed or been unavailable at times.
“That has been a legitimate concern,” said Antonio Doss, director of the SBA’s Washington Metropolitan Area District Office. “I know we are getting a lot of volume. I know it has affected the way our website has operated.”
Most of the time, he said, disasters are limited geographically and not as widespread as the coronavirus pandemic, which has affected companies across the country all at the same time.
“We’ve never had every single jurisdiction in the country affected by a disaster at the same time. It truly is unprecedented,” Doss said.
The SBA’s disaster loans for economic injury allow companies to defer payments for a full year, and then pay them at a low, 3.75% interest rate. While…Read the full story from the Washington Business Journal.