In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.
To apply for a COVID-19 Economic Injury Disaster Loan, click here.
Economic Injury Disaster Loans are also available to residents in declared disaster areas. To view the full list of disaster declarations, click here.
To apply for a disaster loan unrelated to COVID-19, click here.
If you have any questions about the disaster loans, the current state and federal laws affecting your employees, or other labor law issues, contact us today at 760-779-1313.