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Disaster loans approved for Wisconsin small businesses affected by COVID-19 pandemic

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Published: Mar. 20, 2020 at 10:16 PM CDT
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The U.S. Small Business Administration has approved disaster loans for small businesses in Wisconsin affected by the COVID-19 pandemic.

Businesses and non-profit groups can apply for up to $2 million in loans through the SBA's Economic Injury Disaster Loan program.

The interest rate on loans is 3.75% for for-profit businesses and 2.75% for non-profits, and payments can be extended for up to 30 years.

Information for loan applications can be found at

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Business owners with questions about their qualifications or the application process can find help at

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Processing applications may take more time than usual because of high demand.

"With the SBA loans now available to our state, small businesses and their employees have a little more certainty over their financial futures," Gov. Tony Evers said in a statement late Friday night announcing the state's request for disaster loans was approved.