Economic Injury Disaster Loans (EDIL) &

Emergency Economic Injury Grants (EEIG)

These grants provide an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan (EIDL). To access the advance, you must first apply for an EIDL and then request the advance. The advance does not need to be repaid under any circumstance, and may be used to keep employees on payroll, to pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent and mortgage payments.

EIDL & EEIG FAQ’S

QUESTION: Are businesses and private non-profits in my state eligible for an EIDL related to COVID19?

Answer: Yes, any business located within all 50 states, DC, and the designated U.S. territories that has experienced substantial economic injury, particularly from COVID-19, may apply for an EIDL.

QUESTION: What is an EIDL and what is it used for?

Answer: EIDLs provide small businesses with a working capital loans of up to $2 million to pay for expenses that could have been met had the disaster not occurred, including payroll and other operating expenses. . These loans generally are lower interest and have options for the deferment of principal and interest for up to 4 years.

QUESTION: Who is eligible for an EIDL?

Answer: The following businesses with 500 or fewer employees are eligible for an EIDL:

• Small businesses (including sole proprietorships, with or without employees)
  
• Independent contractors
  
• Cooperatives and employee owned businesses
  
• Private non-profits
  
• Tribal small businesses

QUESTION: My private non-profit is not a 501(c)(3). Is it still eligible for an EIDL and a grant?

Answer: Yes, if you are a private non-profit with an effective ruling letter from the IRS, granting tax exemption under sections 501(c), (d), or (e) of the Internal Revenue Code of 1954, or if you can provide satisfactory evidence from the State that the non-revenue producing organization or entity is a non-profit one organized or doing business under State law.

QUESTION: Who is eligible for an Emergency Economic Injury Grant (EEIG)?

Answer Those eligible for an EIDL and who have been in operation since January 31, 2020.

QUESTION: How long are Emergency Economic Injury Grants available?

Answer: January 31, 2020 – December 31, 2020. The grants are backdated to January 31, 2020 to allow those who have already applied for EIDLs to be eligible to also receive a grant.

QUESTION: If I get an EIDL and/or an Emergency Economic Injury Grant, can I get a PPP loan?

Answer: Yes. You may apply for a PPP loan regardless of whether you’ve already received an EIDL, unrelated to COVID-19 or you receive a COVID19 related EIDL and/or Emergency Grant between January 31, 2020 and June 30, 2020. If you ultimately receive a PPP loan or refinance an EIDL into a PPP loan, any advance amount received under the Emergency Economic Injury Grant Program would be subtracted from the amount forgiven in the PPP.

QUESTION: How do I know if my business is a small business?

Answer: The SBA has a tool to help you determine if your business meets its size standards, click the link below to access this resource. You will need the 6-digit North American Industry Classification Code for your business and your business’ 3-year average annual revenue.

SBA Size Standards Tool

QUESTION: How do I apply for an economic injury disaster loan?

Answer: Click the link found at the top of this section to access the direct application page, or click here to visit the SBA page for more information on EDILs. We highly recommend reaching out to your local SBA District Office for any questions you have about EDILs and your application process.

QUESTION: I need help with the EDIL process, or just the SBA process in general, where do I go?

Answer: The SBA resource partners are available to help guide you through the EIDL application process. You can find the nearest Small Business Development Center (SBDC), Women’s Business Center, or SCORE mentorship chapter at https://www.sba.gov/localassistance/find/.

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