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.
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Certified 8(a) Firm
A firm owned and operated by socially and...
Cash-basis Accounting
records revenue when cash is...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Affiliates
Business concerns, organizations, or...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Defense Contractor
Any person who enters into...
Guarantor
The legal entity and...
Credit Elsewhere Test (CET)
The test to determine the...
S-Corporation
A form of corporation, allowed by...
Sole Proprietor
an individual who...
Certificate of Competency
A certificate issued by the Small Bus...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Primary Activity
The major business activity of...

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