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.
Lien
A legal claim against an...
Extraordinary Items
Additional expenses that are...
Joint Venture
In the SBA Mentor-Protégé Program...
Small Disadvantaged Business Concern
A small business concern that...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Affiliate
Business concerns are affiliates if one concern...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Protégé
A firm in a developmental stage that...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Affiliated Group
When two or more...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Substantial Damage
This means uninsured or otherwise uncompensated...
Best and Final Offer
For negotiated procurements...
Duplicated Interest
The amount of interest exp...
Electronic Data Interchange
Transmission of information bet...

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