SBA’s Economic Injury Disaster Loan Program

The Small Business Administration’s (SBA) disaster loan product that’s being used to provide financial aid during COVID-19 situation is the Economic Injury Disaster Loan Program. Small business owners in all U.S. states and territories are currently eligible to apply for a low-interest loan due to Coronavirus.

These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. At an interest rate is 3.75% for small businesses, 2.75% for non-profits, SBA offers terms of up to 30 years.

View the time-line, filing requirements and a list of documents required, Here  For additional information, Members can contact the SBA disaster assistance customer service center. 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov  Small Business Administration Contact Information – Local Assistance Search Tool