SBA Loans for Small Businesses Impacted by The Crisis
Request a QuoteSBA Loans for Small Businesses Impacted by The Crisis
Request a QuoteFinancial assistance is available for small businesses to help increase cash flow during the pandemic and resulting economic crisis.
WHAT HELP IS THERE?
- The SBA Economic Injury Disaster Loan (EIDL) program provides low-interest loans up to $10M to businesses and private non-profits.
- EIDLs may be used to pay fixed debts, payroll, accounts payable, and other bills.
- The interest rate is 3.75% for small businesses and 2.75% for non-profits.
- Long-term repayment options up to 30 years are available.
- Terms are determined on a case-by-case basis based on the borrower’s ability to repay.
IS MY COMPANY ELIGIBLE?
- Underwriting is more lenient than typical SBA programs.
- No minimum credit score is required.
- Your company must be able to prove that it would have been able to repay the EIDL, had its business continued without the crisis happening.
- Your company must have suffered working capital losses during this economic crisis.
HOW DO I APPLY
-
Complete the economic injury worksheet (this will speed up the process)
- Online at gov/disasteror https://disasterloan.sba.gov/ela.
- Need help? Access these step-by-step online instructions.
- Still need help? Call the SBA’s Disaster Customer Service Center at 800-659-2955 or email disastercustomerservice@sba.gov. Individuals who are deaf or hard-of-hearing can call
800-877-8339.
As with everything relating to this pandemic, things are changing rapidly. For updates on financial assistance that is available to small businesses, please visit www.sba.gov.