Economic Injury Disaster Loan
Providing the necessary working capital to help small businesses survive
The Coronavirus Aid, Relief and Economic Security (CARES) Act also created the Economic Injury Disaster Loan Program (EIDL). Administered directly by the SBA, an EIDL may provide up to $2 million of financial assistance to those suffering substantial economic injury as a result of the COVID-19 pandemic. The program is available to small businesses, small agricultural cooperatives, small aquaculture businesses, most private non-profit organizations, and sole proprietors or independent contractors.
An important component of the EIDL program, is the Economic Injury Disaster Grant program that provides a $10,000 cash advance.
For more information, and the latest updates, visit the SBA’s site.
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