SBA's EIDL program reopened to eligible businesses, non-profits

SBA
March 19, 2020
The U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal last week to all eligible applicants experiencing economic impacts due to COVID-19. 
 
With the reopening of the EIDL assistance and EIDL Advance application portal to all new applicants, additional small businesses and non-profits will be able to receive these long-term, low interest loans and emergency grants. EIDL assistance can be used to cover payroll and inventory, pay debt or fund other expenses. Additionally, the EIDL Advance will provide up to $10,000 ($1,000 per employee) of emergency economic relief to businesses that are currently experiencing temporary difficulties, and these emergency grants do not have to be repaid.

For information on SBA's disaster relief programs go to: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options
Additionally, the following PPP information was updated on SBA's website last weekend: Summary of PPP lending as of 6/20/20