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.
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).