DOWNERS GROVE, ILLINOIS (March 17, 2020) – The National Sporting Goods Association sent letters on March 16 asking all 50 governors in the United States to request the Small Business Administration (SBA) issue loans under an Economic Injury Disaster Loan declaration to provide financial assistance to impacted sporting goods retailers and dealers as they attempt to recover from losses in revenue caused by the COVID-19 outbreak.
Companies can start filling out paperwork for a small business loan related to COVID-19. A small business may borrow up to $2 million for Economic Injury consistent with the terms of the program. Click here for the Three Step Process for Disaster Loans for information on applying for the loan, processing the loan application and how a loan is closed and funds are disbursed.
The fastest way to to receive a decision on loan eligibility is to complete the online application. You can also complete the application using the paper version.