The Economic Injury Disaster Loan (EIDL)
program provides working capital to small businesses and some private non-profits suffering substantial economic injury as a result of COVID-19.
These loans may be used to pay fixed debts, payroll, accounts payable, and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay; you must apply directly with the SBA.
For additional information, CLICK HERE
The application for borrowers can be found HERE
Economic Injury Disaster Grant
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster grant of up to $10,000. This grant will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application. This grant will not have to be repaid.
Apply for the grant HERE
Shuttered Venue Operators Grant
The Shuttered Venue Operators Grant offers grants for live venue operators/promoters, theatrical producers, live performing arts organization operators, museum operators, movie theater operators, and talent representatives. Eligible applicants may qualify for SVO Grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.
Apply for the grant here