SBA Economic Injury Disaster Loan (EIDL)
(you know it’s true government when there are loads of acronyms, amiright?)
This program is a loan directly from the US Department of the Treasury, via the Small Business Administration (SBA). It’s a result of the legislation passed Tuesday March 17, 2020.
Eligible applicants include: small businesses, non-profits, and owners of rental property.
Ineligible applicants: agricultural enterprises; religious organizations; gambling concerns.
The intent of these funds are to help with operating revenue. This money is not intended for expansion or innovation, but to keep operations going.
Apply at: https://disasterloan.sba.gov/ela/
There is no cost to apply, and no obligation to accept loan.
Note: non-profits will need to supply some additional materials upon application.
Barb is the CEO of Fisher Bookkeeping, an outsourced bookkeeping consultancy that provides small businesses with a full-service financial department. Her favorite aspect of work is to break down the accounting to meaningful bits, so entrepreneurs can make a powerful difference in their own business. She's also a power lifter (squat: 215, DL: 270).