$10,000 SBA Loan for Small Businesses

As the coronavirus continues to wreck havoc across the country, many small businesses are struggling to continue operations and pay their minimal obligations. These businesses may be eligible for a loan advance, up to $10,000.

In addition to the Paycheck Protection Program, the SBA’s Economic Injury Disaster Loan can provide struggling businesses a lifeline. The loan provides assistance to small businesses experiencing a temporary loss of revenue as a result of the COVID-19 pandemic. 

Eligible participants include small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by COVID-19.

Businesses in certain industries may have more than 500 employees if they meet certain standards prescribed by the SBA.

The Economic Injury Disaster Loan advance funds will be made available within days of a successful application, and this loan advance will not have to be repaid. 

Click Here to find out more or apply via the SBA's website.

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