Coronavirus (COVID-19) Resource Center > Economic Injury Disaster Loans (EIDL)
Economic Injury Disaster Loans (EIDL) provide businesses a way to pay normal operating expenses that can’t be paid during a disaster. It is based on applicants’ credit and ability to repay.
CARES ACT expands EIDL
- Everyone who applies will receive a $10,000 advance within 3 days, regardless of credit or final approval.
What can funds be used for?
- Regular debt and lease payments
- Rent or mortgage payments
- Accounts Payable
How much can I get?
- $10,000 advance within 3 Days
- Up to $200,000 without a personal guarantee
Keep in Mind:
- You will be asked to keep track of the expenses you paid with the funds.
- You are eligible to use both and EIDL and a Payroll Protection Program (PPP) loan, but you cannot use both loans to pay for the same expense
- Submit support documents AFTER you get advance.
Support Docs to Get Ready (after you apply):
- Most recent Federal Tax Return (all schedules)
- IRS Form 4506T
- Personal Financial Statements
- Summary of the Economic Disaster Loan: Download and print PDF
- Steps to apply for EIDL: Download and print PDF
- Apply online at covid19relief.sba.gov
- Businesses can call 1-800-659-2955 for help with the application
- For more information, visit https://www.sba.gov/funding-programs/disaster-assistance
- EIDL FAQs
Learn more about the Payroll Protection Program