SBA Economic Injury Disaster Loan
Congress has expanded eligibility for SBA Economic Injury Disaster Loans (EIDL).
In addition to the entities that are already eligible for SBA disaster loans (small businesses, private nonprofits, and small agriculture cooperatives), eligibility is temporarily expanded to include:
Business entities with 500 or fewer employees
Sole proprietorships, with or without employees
Cooperatives and employee-owned businesses
Tribal small businesses
Private nonprofits of any size.
Additionally, you must have been in business as of January 31, 2020. Expanded eligibility criteria are only available between January 31, 2020 and December 31, 2020.
How to Apply
You can apply for an EIDL online with the SBA.
You can visit an SBA resource partner who can help guide you through the loan application process. You can find your nearest Small Business Development Center (SBDC) or Women’s Business Center here.
If you have additional questions, my staff will help get you answer. Contact my nearest office here.
For more information about SBA loan programs, please visit the Small Business Administration website.