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.
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Projection
An estimate of future economic or...
Subcontract
A contract between a prime cont...
Emerging Small Business
A small business concern whose...
Phase 2
Process to be used to determine economic injury for...
Affiliate
Business concerns are affiliates if one concern...
Lien
A legal claim against an...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
NAICS
NAICS codes are common...
Capital Leases
are for the purchase of fixed assets such as...
Electronic Data Interchange
Transmission of information bet...
Partnering
A mutually beneficial business-to-bus...
S-Corporation
A form of corporation, allowed by...
Income Statement
Shows the entity’s income and...
Phase 1
Process used to determine the...

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