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Through its Economic Injury Disaster Loan program (EIDL), SBA can provide eligible small businesses (and nonprofits of any size) with low-interest working capital loans to help meet the short-term needs of a business caused by an interruption in revenues resulting from the Coronavirus pandemic.

The interest rate for businesses is 3.75% and for eligible non-profits is 2.75%

SBA offers loan terms up to a maximum of 30 years. Terms are determined on a case- by-case basis, based on each borrower’s ability to repay.

SBA EIDL loans are intended to address the short-term needs of the business. Expenses such as: Payroll, Accounts Payable, Mortgage Payments, Lease Payments, Insurance Premiums, and Utilities are among the acceptable use of proceeds.

No. The loan funds may not be used to refinance, or payoff long-term debt. However, it can be used to make payments on existing mortgage or other installment loan debt.

Repayment on these loans start 12 months from the date of the Note for a deferment period of 11 months.

No. Religious organizations are ineligible for SBA Economic Injury Disaster Loans.

Small business size standards are established based on specific industries as defined in the North American Industry Classification System. SBA makes size the standard determination as part of the loan decision-making process.


You may apply by visiting our website at

Payments on all existing SBA disaster loans are being deferred through December 31, 2020 automatically. It is not necessary to make a formal request to receive a deferment. This only applies to SBA disaster loans. Payments on SBA guaranteed loans originated through a private lender are not included in this policy.

Your information may have been potentially exposed to other applicants on our loan application site. We immediately disabled the impacted portion of the website, addressed the issue, and relaunched the application portal. SBA is in the process of notifying impacted applicants and will offer them twelve months of free credit monitoring.

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