Economic Injury Disaster Loan

Economic Injury Disaster Loan



The U.S. Small Business Administration’s (SBA) Economic Injury Disaster Loan (EIDL) provides economic relief to businesses that are currently experiencing temporary difficulties and loss of revenue. There is no minimum loan requirement, although loans are capped at $2,000,000 per business. EIDL may supplement a Paycheck Protection Program loan as long as the funds are not used for the same purpose. The loan repayment may be deferred for up to one year and repayment terms up to 30 years are available.




Funds may be used to meet the capital needs of small businesses caused by the COVID-19 response. This includes:

  • Financial obligations
  • Operating costs
  • Fixed debt payments
  • Payroll
  • Account payable
  • Extraordinary expenses


  • 3.75 percent for businesses (fixed)
  • 2.75 percent for nonprofits (fixed)
  • 30 years
  • No pre-payment penalty or fees
  • 1 year maturity
  • 1 year interest deferral


Small businesses including:

  • Less than 500 employees
  • Independent contractors
  • Nonprofits 501(c)3
  • Veterans organizations 501(c)(19)
  • Tribal businesses
  • Agricultural businesses 18(b): production of food and fiber, ranching and raising of livestock, aquaculture, and all other farming and agricultural related industries


Some businesses may also be eligible for the Paycheck Protection Program or Shuttered Venue Operator Grant. To see if you are cross program eligible, view the SBA’s criteria here.

Targeted EIDL Advance

The COVID-19 Targeted EIDL Advance was signed into law on December 27, 2020, as part of the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act. 


The EIDL Advance program was amended from the original CARES Act allocation. Small businesses located in low-income communities who previously received an EIDL Advance or for those who applied but received no funds due to lack of available program funding may apply for a $10,000 advance. 



  • Located in low-income community as defined in section 45(D) of the Internal Revenue Code. To see if you community qualifies, search the SBA EIDL Map.
  • More than 30 percent reduction in revenue during an eight week people beginning on March 2, 2020 or later.
  • Those who applied for EIDL assistance on or before Dec. 27, 2020, but did not receive an Advance due to lack of program funding.
  • Less than 300 employees
  • All businesses identified as eligible for the EIDL program above


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. Recipients do not have to be approved for a loan in order to receive the advance, but the amount of the loan advance will be deducted from total loan eligibility. 


New applications are no longer being accepted.