Resource
Economic Injury Disaster Loan Program (EIDL) During Pandemic
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The federal government offers two programs. One is the Paycheck Protection Program (PPP) and the other is the SBA Economic Injury Disaster Loan (EIDL). The EIDL program offers loans up to $2 million to give working capital to small businesses impacted by COVID-19 when they are unable to obtain credit elsewhere. Current rates are 3.75% with up to 30-year payment terms.
In addition, look in federal, state, county and city loan and grant programs. We will add guidance on applying for these loans as we learn more.
EIDL RESOURCES
- U.S. Small Business Administration page on COVID-19
- SBA EIDL – apply for disaster assistance
- EIDL Frequently Asked Questions – from NY.gov
OTHER RESOURCES
- State Resources for COVID-19 – contains links to state websites
- City Resources for COVID-19 – contains links to city websites
- Other sources of loans and grants – alternative funding sources
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