Economic Injury Disaster Loans and Loan Advance

covid update 2

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.

Congress approved a second round of funding for Paycheck Protection Program (PPP) forgivable loans and Economic Injury Disaster Loans (EIDL) which will open back up for applications on Monday, April 27, 2020.

SBA Loan Eligibility, Recommendations, and FAQ’s, click here.

SBA Colorado Lenders, click here.

To apply for a COVID-19 Economic Injury Disaster Loan, click here.

For paper & mail-in options instructions, click here.

Please find this step-by-step guide of the application process helpful to assist you through the separate forms and application.

VIRTUAL COFFEE WITH THE SBDC DIRECTOR 

Join the Aurora-South Metro SBDC Director, Marcia McGilley, for a cup of “virtual coffee”.

Visit the website to see upcoming dates and to register for the "Virtual Coffee".

SBDC Events/Workshops

Bring your business questions and small business assistance needs during this challenging time. Discussion to include:

  1. SBA Updates on the Economic Injury Disaster Loans (EIDL)
  2. Federal CARE programs
  3. Virtual Consulting and Workshops available
  4. General Business Topics