Kentucky small businesses approved for federal disaster relief loans amid COVID-19 outbreak

The U.S. Small Business Administration (SBA) has approved disaster relief loans for small businesses in Kentucky that are not able to operate due to the novel coronavirus outbreak, according to Gov. Andy Beshear. 

LOUISVILLE, Ky. (WDRB) -- The U.S. Small Business Administration (SBA) has approved disaster relief loans for small businesses in Kentucky that are not able to operate due to the novel coronavirus outbreak, according to Gov. Andy Beshear. 

The governor said he plans to share more information on the relief funds during Sunday's daily COVID-19 update, but he urged Kentuckians to begin applying via the SBA's official website or by calling 800-659-2955.

"If you are a Kentucky business that has been affected and one of these disaster loans can help you out, please apply," Beshear said Saturday. "We want as many of you as possible to get out there and to do it."

The SBA 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," according to the administration's website. Business owners will need to provide the following information to apply for the disaster relief aid:

  • Tax Information Authorization (IRS Form 4506T), completed and signed by each applicant, each principal owning 20% or more of the business and each general partner or managing member and affiliate
  • Complete copies, including all schedules, of the most recent federal income tax return
  • Personal Financial Statement (SBA Form 413) 
  • Schedule of Liabilities listing all fixed debts (SBA Form 2202 may be used) 
  • A current year-to-date profit-and-loss statement
  • Additional Filing requirements (SBA Form 1368) providing monthly sales figures 

Related Stories:

Copyright 2020 WDRB Media. All Rights Reserved.