Time is running out to apply for COVID-19 Economic Injury Disaster Loan file (Source: wvir) By Patrick Huddleston | December 18, 2020 at 10:37 AM EST - Updated December 18 at 10:37 AM
CHARLOTTESVILLE, Va. (WVIR) -) According to the Central Virginia Small Business Development Center, the deadline to apply for a COVID-19 Economic Injury Disaster Loan is December 30.
“The nice thing about this loan is it’s got a long-term pay back. It’s a 30-year repayment. Most bank loans go 5 to 10 years a the most. The interest rate is fixed at three and three quarters percent, which is not a bad rate today for a 30-year loan,” says Greg McFetridge, an access to capital business advisor at the Central Virginia Small Business Development Center.