Updated: Oct 28, 2020
SBA Economic Injury Disaster Loans have the loan best terms that you will ever get.
COVID-19 Economic Injury Disaster Loan Terms
3.75% for businesses (fixed)
No pre-payment penalty or fees
Payments deferred 1 year; interest still accrues
Who is Eligible for an EIDL Loan
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).
Who is NOT Eligible for an EIDL Loan
Businesses that did not operate before 2020
How To Apply For an EIDL Loan
Apply directly with the SBA for COVID-19 Economic Injury Disaster Loans