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.
Current Liabilities
A balance sheet item, which...
Corporation (C-corp.)
The most common form of business org...
Certificate of Competency
A certificate issued by the Small Bus...
Substantial Damage
This means uninsured or otherwise uncompensated...
Equity
An accounting term used to...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Primary Activity
The major business activity of...
Current Assets
A balance sheet item which equals...
Affiliate
Business concerns are affiliates if one concern...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Credit Elsewhere Test (CET)
The test to determine the...
Best and Final Offer
For negotiated procurements...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Collateral
Assets pledged by a borrower to secure a loan...
Affiliates
Business concerns, organizations, or...

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