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Small businesses can apply for loans as result of virus

NASHVILLE, Tenn. (AP) — Tennessee small businesses that have been economically harmed as a result of the coronavirus outbreak can apply for U.S. Small Business Administration disaster loans, the state said.

Small businesses and nonprofit organizations are eligible to apply for economic injury disaster loans of up to $2 million. The funds are to be used for financial obligations and operating expenses.

"Small businesses and nonprofits across the state are suffering greatly in the wake of this pandemic, and these loans will help overcome the temporary loss of revenue companies are experiencing during this difficult time," Gov. Bill Lee said last week in a news release from the state Department of Economic and Community Development.

The request for the economic injury disaster loan declaration was submitted Wednesday.

Applicants may apply online, receive additional disaster assistance information and download applications online.