Today Anne Arundel Economic Development Corporation (AAEDC) Vice President of Finance Steve Primosch announced that AAEDC joined the State of Maryland’s application for an Economic Injury Declaration through the Small Business Administration (SBA).
“In speaking to the SBA, the application is expected to be approved today or tomorrow,” said Mr. Primosch. “After that is done companies can apply at the SBA’s Disaster Loan Assistance page.” The URL for that page is https://disasterloan.sba.gov/ela/Account/Login. The anticipated turn around time for small business applications is 21 days.
Today’s announcement follows AAEDC’s March 16th decision to waive late fees for businesses that have loans through its finance program and whose operations are disrupted by the Coronavirus (COVID-19) outbreak. Affected business loan clients are encouraged to contact AAEDC if other payment modifications are needed.
Businesses are encouraged to regularly check the “Newsroom” section of AAEDC’s website, www.aaedc.org. The page offers links to state and federal resources available to assist impacted businesses. Topics include employer and worker assistance, financial assistance and taxes and licensing and permitting.
