Workforce Development Board of Rockland County

Connecting Rockland's Workforce to Economic Development

℅ RTCI, Stony Point NY
(845) 770-2900
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Process for Accessing SBA’s Coronavirus (COVID-19) Disaster Relief Lending

March 14, 2020 by helpdesk1

The following information has been provided by Jeremy Shulman, Rockland County Director of Economic Development and Tourism:

The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.

  • Any such Economic Injury Disaster Loan assistance declaration issued by the SBA makes loans available to small businesses and private, non-profit organizations in designated areas of a state or territory to help alleviate economic injury caused by the Coronavirus (COVID-19).
  • SBA’s Office of Disaster Assistance will coordinate with the state’s or territory’s Governor to submit the request for Economic Injury Disaster Loan assistance.
  • Once a declaration is made for designated areas within a state, the information on the application process for Economic Injury Disaster Loan assistance will be made available to all affected communities.
  • SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
  • These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.
  • SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
  • SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response, and the SBA is strongly committed to providing the most effective and customer-focused response possible.

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Connecting Rockland’s Workforce to Economic Development

“The partnership between local government and the Workforce Development Board of Rockland County is critical to our success as a county in both the short and long term.

Coordinating training and support services for job seekers with the skills and certifications employers are looking for is the best way to get our residents into quality, high paying jobs that will allow them to support their families and lead to further success here in Rockland.”

–Ed Day, County Executive

County Executive Ed Day

Connecting Rockland’s Workforce to Economic Development

We are a volunteer body responsible for policy guidance and oversight of workforce development in Rockland County.  We direct federal, state, and local funding to programs for adults, dislocated workers and youth to help them acquire the skills employers want and help employers access the talent pool they need to compete and win in a global economy.

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(914) 393-3649

Our Location

14 Liberty Square Mall
Stony Point, NY 10980
c/o RTCI

Our Partners

County of Rockland
New York State Department of Labor
Rockland Community College
Rockland County BOCES

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