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..
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Cash Flow Test
Part of the CET that determines if...
Negotiation
Contracting through the use of...
Certificate of Competency
A certificate issued by the Small Bus...
Contracting Officer
A person with the authority to...
Intermediary Organization
Organizations that play a funda...
Request for Proposal (RFP)
A document outlining a...
Contracting
Purchasing, renting, leasing, or...
Fair and Reasonable Price
A price that is fair to both parties...
Days Payable
A measure of the average time a...
Applicant/Co-Applicant
Business entity and person requesting...
Collateral
Assets pledged by a borrower to secure a loan...
Days Receivable
A measure of the average time a...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...

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