The Small Business Administration is reopening its Economic Injury Disaster Loan and EIDL Advance program portal for all eligible businesses and nonprofits.
Administrator Jovita Carranza says the decision is designed to help businesses and nonprofits as the COVID-19 pandemic continues, providing them with long-term low-interest loans and emergency grants to blunt the economic impact for the different entities, employees and communities they support.
Federal money through the disaster loan program can provide money to help offset temporary revenue loss and to cover debts, payroll, accounts payable and other bills that can’t be paid because of a disaster. The disaster loan advance program can provide up to $1,000 per employee, or a $10,000 maximum, in emergency grants.
For more information, go online to www.sba.gov/disaster.
