U.S. Small Business Administration Now Accepting New Applications for COVID-19 Economic Injury Disaster Loans and Advance. This loan advance will not have to be repaid.
In response to the Coronavirus (COVID-19) pandemic, small business owners are able to apply for an Economic Injury Disaster Loan (EIDL) Advance of up to $10,000. This advance is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. This loan advance will not have to be repaid.
SBA resumed processing Economic Injury Disaster Loan applications that were submitted before the portal stopped accepting new applications on April 15 and will be processing those applications on a first-come, first-served basis.
On June 15, SBA began accepting new Economic Injury disaster Loans and Advance applications from qualified small businesses. Click here for more information.