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.
Cash-basis Accounting
records revenue when cash is...
Full and Open Competition
With respect to a contract action...
Prime Contract
A contract awarded directly...
Certified 8(a) Firm
A firm owned and operated by socially and...
Operating Leases
are deducted on the company’s...
Hardship Waiver
Method used to approve a...
S-Corporation
A form of corporation, allowed by...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Corporation (C-corp.)
The most common form of business org...
Credit Elsewhere Test (CET)
The test to determine the...
B/E (Business EIDL) Loan
A business loan that...
SCORE
Counselors to America's Small Bus...
Small Business
A business smaller than...
Emerging Small Business
A small business concern whose...
Certificate of Competency
A certificate issued by the Small Bus...

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