Was there a sensitive data breach?

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.

How can I get a deferment on my existing SBA disaster loan?

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.

What is a “Small Business”?

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.

What can I use the funds for?

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.

What is the term?

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.