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SBA Economic Injury Disaster Loans (EIDL) & Targeted EIDL Advance

Updated on 3/22/2021

Update 3/22/21: The SBA's Economic Injury Disaster Loan (EIDL) program has been updated with the passage of the American Rescue Plan.

The EIDL loan provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue.

  • Low-interest loans of $25,000 to $2 million to small businesses and private non-profits affected by the COVID-19 pandemic.

    • These "working capital loans" can be used to meet needs including payroll, accounts payable, and fixed debt payments until the situation improves.

    • Terms include:

      • 3.75% for businesses (fixed) and 2.75% for nonprofits (fixed)

      • 30 years maturity

      • No pre-payment penalty or fees 

      • Payments can be deferred for one year, but interest still accrues (Borrower may make payments if they choose to)

    • There are collateral requirements for loans over $25,000

    • The EIDL Loan is not eligible for forgiveness

    • The EIDL Advance is eligible for forgiveness 

  • View full details on SBA's Economic Injury Disaster Loans website 

  • The SBA is now accepting new Economic Injury Disaster Loan (EIDL) and Targeted EIDL Advance applications from qualified small businesses and U.S. agricultural businesses.

Interested in applying for a SBA Economic Injury Disaster Loan?  

1. Familiarize yourself with the process, requirements, criteria, and application itself FIRST via the below resources BEFORE starting the application or contacting our center.

  • Applicants MUST ensure they have ALL required documentation submitted to the SBA for consideration when submitting an application. 

  • View the SBA's Economic Injury Disaster Loans website 

  • View the SBA EIDL FAQ Sheet 


    • Incomplete submissions will delay the application process.​

    • If you do not already have a login, you can register to create an account. You will then be directed to the required application form.

    • Businesses will receive an app number once someone in the loan center enters your documents into the system.

    • If you started using the old system, upload a cover page and then complete and upload the unfinished documents noting the application number you were previously given on each page.

    • The disaster loan center will send out email notifications when the status changes on your application. 

    • Chrome browser seems to work best if you are having technical difficulties. ​​

2. Assemble the Required Forms and apply


Interested in the Targeted EIDL Advance?

  • 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 Targeted EIDL Advance provides businesses located in low-income communities with additional funds to ensure small business continuity, adaptation, and resiliency.

    • Advance funds of up to $10,000 will be available to applicants located in low-income communities who previously received an EIDL Advance for less than $10,000, or those who applied but received no funds due to lack of available program funding.

    • Applicants do not need to take any action at this time. SBA will reach out to those who qualify.

  • SBA will first reach out to EIDL applications that already received a partial EIDL Advance (between $1,000 - $9,000). Applicants will be contacted directly by SBA via email in the coming weeks with instructions to determine eligibility and submit documentation. 

    • All communications from SBA will be sent from an official government email with an ending. Please do not send sensitive information via email to any address that does not end in

  • To learn more view the SBA's Economic Injury Disaster Loans website and scroll down to the "Targeted EIDL Advance" section 

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