Economic Injury Disaster Loan (EIDL) from the SBA
The Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020
Providing help to small businesses through the U.S. Small Business Administration (SBA) through low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).
Loan Purpose: funding of working capital needs, pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.
Eligibility: based on size and type of business (must be a small business) and the business’ financial resources to repay the loan. Agricultural enterprises, religious organizations and charitable organizations are among the organizations that are ineligible. For a complete list visit DisasterLoan.sba.gov
There is no cost to apply
No obligation to take the loan if offered
Applicants qualify for an EIDL for the Coronavirus (COVID-19) disaster even if they have an existing SBA Disaster Loan
Application: Call us for help or apply online here: https://www.sba.gov/funding-programs/disaster-assistance