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Economic Injury Disaster Loan ( EIDL)

These Loans are administered directly through the SBA’s Office of Disaster Assistance. EIDL assistance is available only to small businesses when SBA determines they are unable to obtain credit elsewhere.


  • Loans up to $2,000,000 are available with up to a 30-year term ( amortized) with an interest rate of 2.75% for non-profits or 3.75 % for others, with deferral options available.
  • Most loans require personal guaranties.
  • Loans greater than $25, 000 will require collateral.
  • No SBA fees or closing costs.
  • No prepayment fees.
  • Only available in states with SBA approved declaration of disaster.

Loan proceeds must be used for fixed debts incurred prior to the disaster event, make payments on other loans owned by another federal agency or the SBA, pay tax penalties, pay dividends or other disbursements to owners or partners except as related to their performance of service for the business.

To learn more please click here.