As of April 6, 2021, you can apply for an EIDL of up to $500,000 covering 24 months of economic injury to pay expenses such as fixed debt and payroll costs. Some loans processed prior to that date may be eligible for an increase and those borrowers will be notified by the SBA.

Is the covid-19 economic injury disaster loan still available?

EIDL applications are still being processed, even though applications for the Advance are no longer available. Please do not submit additional applications on the COVID-19 EIDL portal. Existing borrowers can create an account in the SBA Capital Access Financial System (CAFS) to monitor their loan status.

How big is the SBA EIDL disaster loan?

While the EIDL advance or grant is a forgivable loan advance of up to $10,000, the SBA’s Economic Injury Disaster Loans offer up to $2 million in non-forgivable, low-interest Disaster Relief Lending assistance per small business.

What’s the maximum amount for an economic injury loan?

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. Example: continuation of health care benefits, rent, utilities, fixed debt payments.

An Economic Injury Disaster Loan (EIDL) helps small businesses and nonprofits that are losing money during the coronavirus pandemic and that need funds for financial obligations and operating expenses. SBA is accepting applications for EIDLs until December 31, 2021.

Where can I get a disaster loan for my business?

This loan applies to all businesses based in any U.S. state, territory, or the District of Columbia. Businesses of all sizes located in declared disaster areas, private nonprofit organizations, homeowners, and renters affected by declared disaster, including civil unrest and natural disasters such as hurricanes, flooding, wildfires, etc.

Where is the SBA office of Disaster Assistance?

SBA Office of Disaster Assistance | 1-800-659-2955 | 409 3rd St, SW. Washington, DC 20416

Where can I apply for FEMA disaster assistance?

FEMA programs do not pay for fuel or cover food losses. If you have immediate needs for food or shelter, you may contact 2-1-1 for local resources. If you were affected by the winter storms in Texas, Oklahoma or Louisiana you can apply for disaster assistance online by selecting “Apply Online”.