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.
Applicant Entity
The business entity requesting...
Amortization
A non-cash operating expense that...
Sole Proprietor
an individual who...
S-Corporation
A form of corporation, allowed by...
Income Statement
Shows the entity’s income and...
Normal Annual Sales
Those sales that would have...
Affiliated Group
When two or more...
Full and Open Competition
With respect to a contract action...
Cash-basis Accounting
records revenue when cash is...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Credit Elsewhere Test (CET)
The test to determine the...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Subcontract
A contract between a prime cont...
Extraordinary Items
Additional expenses that are...
Lien
A legal claim against an...

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