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economic injury disaster loan

8 posts
WJR Business Beat
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WJR Business Beat with Jeff Sloan: Federal Government Offers Deferred Payments on EIDL Program Loans (Episode 200)

The U.S. Small Business Administration (SBA) announced it will defer the time period in which small businesses need to start repaying Economy Injury Disaster Loans (EIDL) in principle and interest. The COVID-19 EIDL program has assisted over 3.7 million small businesses in this country, including nonprofit organizations, sole proprietors and independent contractors from a wide...
PPP Loans
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4 Ways the New PPP Loans are Better Than Before

The economic stimulus bill that was recently passed by the House and Senate has been signed by the President. It contains several hundred pages of aid for small businesses. There will be more funds available for Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loan (EIDL) grants, among other aid to struggling businesses. Those...
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How to Pay Back an EIDL or PPP Loan

If your business received an Economic Injury Disaster Loan (EIDL) or Paycheck Protection Program (PPP) loan, you may have determined it isn’t a good fit for your small business for any number of reasons: You just wanted the EIDL grant and not an EIDL loan,  You didn’t understand the loan terms when you applied, You...
financial help
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Need Financial Help to Reopen Your Business After COVID-19?

After months of lockdowns that required many companies to cut back hours, pause production or close completely, restrictions are starting to lift, and small businesses are starting to slowly and cautiously open back up. But when they do, they’ll be opening their doors to a different world than when they had to close them. With...
COVID loan
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3 Things That Could Cost Your Business its COVID-19 Loan

The Senate approved an additional $60 billion in funding for the Economic Injury Disaster Loan (EIDL) program and $310 billion for Paycheck Program Protection (PPP) loans on April 21, 2020. It now heads to the House and then, hopefully, to the President’s desk. Small business owners who missed out on the first round of funding...
relief funds
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COVID-19 Small Business Relief Funds Exhausted

You may have heard that the Small Business Administration (SBA) has run out of money to fund the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program. In other words, at least for the time being, the COVID-19 Small Business Relief Funds have been exhausted.   Congress is currently working on another appropriation...
SBA disaster loans
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Frequently Asked Questions About Applying for SBA Disaster Loans (EIDL) Due to Coronavirus

This article has been updated April 23, 2020 to include additional funding approved by Congress. Small business owners impacted by the coronavirus crisis may want to consider an SBA Economic Injury Disaster Loan. These loans are attractive for several reasons, including: Low fixed interest rates: 3.75 percent or 2.75 percent for non-profits Long-term repayment of...