SBA Economic Injury Disaster Loan

U.S. Small Business Administration

Now accepting new applications for COVID-19 Economic Injury Disaster Loans. If you have previously applied and not heard a decision, do not reapply. This portal is for new applications only. Check the SBA website for more information.

What is an Economic Injury Disaster Loan (EIDL)?

EIDLs are low interest loans of up to $2 million that are available to pay for expenses that could have been met had the disaster not occurred, including payroll and other operating expenses.

The 2020 CARES Act included an advance of up to $10,000 for anyone who applies for an EIDL. The advance does not need to be repaid under any circumstance, and may be used to keep employees on payroll, to pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent and mortgage payments. 

Where do I apply?

These loans are made directly through the SBA. Apply here:

The SBA has streamlined the application process for COVID-19 response. It takes about 10 minutes to complete.

If you did not apply through the streamlined application process, SBA request that you visit and reapply with the secure streamlined process. You will not lose your place in queue with your original EIDL loan application.

How does the advance/grant work?

You select the option to receive the advance at the end of the application.

  • You do not have to pay this advance back even if you do not accept the loan offer. According to an SBA bulletin, the advance amount would be $1,000 per employee, up to a maximum of 10 employees.
  • While the SBA initially said the advance would be disbursed within three days of submitting the application, that has been delayed. The SBA said on Monday, April 6, that disbursements would begin this week.

Loan Eligibility

  • Any business with under 500 employees that meets the SBA size standard
  • Most private nonprofits recognized under IRS sections 501(c) and (e) 
  • Self-employed individuals and sole proprietors
  • All 50 states and the U.S. territories have been declared a disaster
  • Must have been in business as of January 30, 2020

Loan Terms

These loans are offered at 3.75% fixed (2.75% for nonprofits) for up to 30 years. 

Maximum Loan Amount

The SBa recently increased the cap on COVID-19 EDIL loans from $500,000 to $2 million. Loan funds can be used for any normal operating expenses and working capital, including payroll, purchasing equipment, and paying debt.

  • COVID EIDL funds will now be eligible to prepay commercial debt and make payments on federal business debt.

Deferred Payment Period

The SBA will allow small business owners to begin COVID EIDL repayment two years after loan origination, so they can get through the pandemic without having to worry about making ends meet.

30-Day Exclusivity Window

To ensure main street businesses have additional time to access these funds, the SBA will implement a 30-day exclusivity window of approving and disbursing funds for loans of $500,000 or less. Approval and disbursement of loans over $500,000 will begin after the 30-day period.

Simplification of affiliation requirements. 

To ease the COVID EIDL application process for small businesses, the SBA has established more simplified affiliation requirements to model those of the Restaurant Revitalization Fund.

For more information about the SBA's EIDL grant programs, visit our page on updated to EIDL Targeted Advance Grant Programs