- 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 (COVID-19). Click here to apply. Find more information on the SBA’s Economic Injury Disaster Loans at: SBA.gov/Disaster. The SBA will work directly with state Governors to provide targeted, low-interest loans to small businesses and non-profits that have been severely impacted by the Coronavirus (COVID-19). 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.
- SBA Express Bridge Loans:
Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.
o Up to $25,000
o Fast turnaround
o Will be repaid in full or in part by proceeds from the EIDL loan
Find an Express Bridge Loan Lender via SBA’s Lender Match Tool or by connecting with your local SBA District Office.
- Find Your Local SBA Office:
Helpful, quick answers from the SBA is readily available. Go to this link to find your local office; https://www.sba.gov/local-assistance