The deadline to apply for COVID-19 Economic Injury Disaster Loan funds is quickly approaching with the U.S. Small Business Administration (SBA) accepting applications through December 31, 2021.
This federal small business loan program supports small businesses’ recovery from the COVID-19 disaster’s economic impact by providing accessible and borrower-friendly capital.
The SBA loan is low-interest with a fixed-3.75 percent rate and long-term repayment (30 years). Proceeds provide working capital to meet operating expenses including payroll, rent/mortgage, utilities, and other ordinary business expenses, and to pay business debt incurred at any time (past, present, or future).
For more information including the application process, visit COVID-19 EIDL.