The U.S. Small Business Administration wants deployed reservists and members of the Guard to know that it has their back in a time of war.
Several services are available to veteran-owned businesses that might be affected by the call-up, according to the Office of Veterans Business Development.
These programs are:
• Economic disaster loan — Businesses affected by the absence of an owner or key employees called to active duty may qualify for low-interest loans up to $1.5 million. See www.sba.gov/reservists/disloan.html
• Debt relief – Small businesses can request assistance such as repayment deferrals or interest-rate reductions through a SBA lender or SBA district office. See www.sba.gov/regions/states
• Business counseling and training — Business development counseling and training to cope with absences of employees on active duty is available through local SBA district offices and other resource partners. See www.sba.gov
• Basic 7(a) loan guaranty — This program helps qualified small businesses obtain financing when they are ineligible for traditional business loans. See www.sba.gov
For more information about any of these programs, call (800)827-5722; visit www.sba.gov/reservists; or call the Office of Veterans Business Development at (202)205-6773.