The Small Business Administration has reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19 today.

The SBA EIDL Loan and EIDL Advance is a separate program from the Paycheck Protection Program. If you received a PPP loan you can apply for a loan under this program. Also, certain business types not eligible for PPP may be eligible for disaster assistance under the EIDL Loan Program.

The SBA EIDL Program allows for more flexible Use of Proceeds, longer repayment terms, and different eligibility requirements. Here are some key facts:

These loans may be used to pay debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact, and that are not already covered by a Paycheck Protection Program loan. 

The interest rate is 3.75% for small businesses.  The interest rate for non-profits is 2.75%.

To keep payments affordable for small businesses, the SBA offers loans with long repayment terms, up to a maximum of 30 years.  Plus, the first payment is deferred for one year.

In addition, small businesses and nonprofits may request, as part of their loan application, an EIDL Advance of up to $10,000. The EIDL Advance is designed to provide emergency economic relief to businesses that are currently experiencing a temporary loss of revenue.  This advance will not have to be repaid, and small businesses may receive an advance even if they are not approved for a loan. 

For additional information and to apply, please visit the SBA disaster assistance website at:

NOTE: Community First Fund does not have access to this SBA application portal so you will need to apply on your own. If you have questions, reach out to your local Community First Fund lender for assistance.

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