Economic Injury Disaster Loan (EIDL)

a working capital loan that provides necessary operating funds to enable eligible businesses to overcome the financial impact of a declared disaster. This loan may not be used to purchase long-term assets.

Updated on
September 9, 2022
Published on
June 20, 2018
The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Certificate of Competency
A certificate issued by the Small Bus...
Corporation (C-corp.)
The most common form of business org...
Collateral
Assets pledged by a borrower to secure a loan...
Projection
An estimate of future economic or...
Partnering
A mutually beneficial business-to-bus...
S-Corporation
A form of corporation, allowed by...
NAICS
NAICS codes are common...
Applicant/Co-Applicant
Business entity and person requesting...
Credit Elsewhere Test (CET)
The test to determine the...
Electronic Data Interchange
Transmission of information bet...
Cash-basis Accounting
records revenue when cash is...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Request for Proposal (RFP)
A document outlining a...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...

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