Coronavirus: Small businesses can get up to $2M in loans to avoid shutting down

Coronavirus: Small businesses can get up to $2M in loans to avoid shutting down

NORTH CAROLINA — Small businesses across North Carolina are suffering because of the coronavirus but now, they have new help to stay afloat and hopefully stay open.

Restaurants were forced to close their dining rooms last week, but they are just one type of business hit hard right now. Now, they can get up to $2 million in loans from the federal government to avoid shutting down for good.

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District Director at the U.S. Small Business Administration Tom Smith told Channel 9 businesses that receive money won’t have to start re-paying the loans until next year with an interest rate just over three percent.

Watch the video above as Eyewitness News anchor Allison Latos gets some answers from the agency tasked with helping small business owners.

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