COVID-19 Economic Injury Disaster Loan
EDIL
In response to COVID-19, 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).
- FA Re ardi C6VID 19 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 |
|
| USE OF PROCEEDS | Working capital and normal operating expenses Example. continuation of health care benefits, rent, utilities, fixed debt payments. |
COLLATERAL REQUIREMENTS |
equipment, furniture and fixtures, etc. |
| 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 Pea v OR mail payments to: U.S. Small Business Administration 721 19th Street Denver, CO 80202 Be sure to include EIDL loan number on mailed-in checks. |
SBA is currently accepting new COVID-19 EIDL applications from all qualified smalt businesses, inctuding agricultural businesses, and private nonprofit organizations.
If you have already applied via the streamlined application portal, please do not resubmit your app(ication.
Loan eligibility
Small business owners and qualified agricultural businesses in all U.S. states and territories are currently eligible to apply for a low-interest loan due to COVID-19.
Agricultural businesses with 500 or fewer employees are now eligible as a result of new authority granted by Congress in response to the pandemic.FA Re ardi C6VID 19 EIDL
Agricultural businesses inc(ude those businesses engaged in the production of food and fiber, ranching, raising of livestock, aquaculture, and all other farming and agricultural related industries (as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)).
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