COVID-19 Economic Injury Disaster Loan Application. This loan provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue.
In response to COVID-19, U.S small business owners, including agricultural businesses, and nonprofit organizations in all U.S. states, Washington D.C., and territories can apply for the COVID-19 Economic Injury Disaster Loan (EIDL).
PURPOSE | To meet financial obligations and operating expenses that could have been met had the disaster not occurred |
LOAN AMOUNT | For loans approved starting the week of April 6, 2021: 24-months of economic injury with a maximum loan amount of $500,000. For loans approved prior to the week of April 6, 2021, see loan increases. |
TERMS |
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USE OF PROCEEDS | Working capital and normal operating expenses Example: continuation of health care benefits, rent, utilities, fixed debt payments. |
COLLATERAL REQUIREMENTS |
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FORGIVABLE |
*Advance funds have been fully allocated and are not currently available |
MATURITY | 30 years |
PAYMENTS | Borrower may make payments if they choose to do so. Set up online payments through Pay.gov OR mail payments to: U.S. Small Business Administration Be sure to include EIDL loan number on mailed-in checks. |
ELIGIBILITY
For more Information: Visit the website for COVID-19 Economic Injury Disaster Loan Application
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