WASHINGTON, D.C. – The U.S. Small Business Administration has reopened theEconomic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19.
EIDL assistance can be used to cover payroll and inventory, pay debt or fund other expenses. Additionally, the EIDL Advance will provide up to $10,000 ($1,000 per employee) of emergency economic relief to businesses currently experiencing temporary difficulties, and these grants do not have to be repaid.
The SBA is also assisting small businesses and nonprofits with access to the federal forgivable loan program, the Paycheck Protection Program, which is currently accepting applications until June 30.
For information, visit SBA.gov/Disaster.