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.
Contract
A mutually binding legal rel..
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Mentor
A business, usually large, or...
Normal Annual Sales
Those sales that would have...
Emerging Small Business
A small business concern whose...
Extraordinary Items
Additional expenses that are...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Projection
An estimate of future economic or...
Credit Score Test
Part of the home loan CET show a...
Working Capital (WC)
The amount of current assets that...
Corporation (C-corp.)
The most common form of business org...
Subcontract
A contract between a prime cont...
Injury Period
The time period during...
Days Payable
A measure of the average time a...
Current Assets
A balance sheet item which equals...

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