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.
Hardship Waiver
Method used to approve a...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Contracting Officer
A person with the authority to...
Contractor Team Arrangement
An arrangement in which...
Days Receivable
A measure of the average time a...
Lien
A legal claim against an...
Sole Proprietor
an individual who...
Operating Leases
are deducted on the company’s...
Normal Annual Sales
Those sales that would have...
Primary Activity
The major business activity of...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Equity
An accounting term used to...
Depreciation
A non-cash operating expense that...
Guarantor
The legal entity and...
B/E (Business EIDL) Loan
A business loan that...

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