Home Blog Economic Injury Disaster Loans Available To All Business...

Economic Injury Disaster Loans Available To ALL Businesses Again!

The SBA has announced that their Economic Injury Disaster Loans (EIDL) are once again available to ALL businesses. With the passage of the CARES Act, these loans were modified slightly to include a forgivable advance payment of up to $10,000. Initially, there was a finite amount of funding set aside to cover these forgivable advances, and that funding ran out. The program later received additional funding, meaning the advance payments were available again, but the SBA then made the EIDL program available only to agricultural businesses. The SBA announced that starting this week, they will once again be accepting new applications from any qualified business again. If you meet the criteria for this loan, but did not apply because they were only accepting applications from agricultural businesses for a period of time, you can now submit an application, which can be found here: https://covid19relief.sba.gov/#/.

0 comments