Economic Injury Disaster Loans

Program Description

If your small business has suffered substantial economic injury, regardless of physical damage, and is located in a declared disaster area, you may be eligible for financial assistance from the U.S. Small Business Administration. Small businesses and small agricultural cooperatives that have suffered substantial economic injury resulting from a physical disaster or an agricultural production disaster designated by the Secretary of Agriculture may be eligible for the SBA's Economic Injury Disaster Loan Program.

General Program Requirements

The SBA provides EIDL assistance only to those businesses we determine are unable to obtain credit elsewhere. You may request an EIDL for the amount of economic injury and operating needs, but not in excess of what your business could have paid had the disaster not occurred. In determining your eligible amount, the SBA will look at the total of your debt obligations, operating expenses that mature during the period affected by the disaster, plus the amount you need to maintain a reasonable working capital position during that period, and expenses you could have met and a working capital position you could have maintained had the disaster not occurred.

Loan Terms

• Interest Rate cannot exceed 4% with variable Pre-payment penalties and Upfront Fees. Maximum Loan Length 30 years. Maximum Loan Amount $1.5 million. Variable Payment Frequency.
• Interest Rate cannot exceed 4% with variable Pre-payment penalties and Upfront Fees. Maximum Loan Length 30 years. Maximum Loan Amount $1.5 million. Variable Payment Frequency.

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