SBA Re-Opens Economic Disaster Fund for Small Businesses, Entrepreneurs, Gig-Workers
On June 15th, 2020 the SBA reopened the Economic Injury Disaster Loan Program (EIDL) Advance. The program is designed to provide up to $10,000 for businesses to cover temporary loss in revenue. This loan advance will not have to be repaid.
EIDL program eligibility includes small businesses with less than 500 employees, gig-workers/independent contractors, non-profits, and agricultural business to apply for the
The application process includes completing a simple form requesting an Economic Injury Disaster Recovery Loan, which provides for the advance even if the loan is not granted and does not have to be repaid. Applicants who have already submitted an applications will be processed on a first-come, first-served basis.
To Apply: https://covid19relief.sba.gov/#/
More information is available at: https://www.sba.gov/page/disaster-loan-applications#section-header-0