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.
Request for Proposal (RFP)
A document outlining a...
Equity
An accounting term used to...
Small Disadvantaged Business Concern
A small business concern that...
Defense Contractor
Any person who enters into...
Current Assets
A balance sheet item which equals...
Full and Open Competition
With respect to a contract action...
Injury Period
The time period during...
Cash-basis Accounting
records revenue when cash is...
Amortization
A non-cash operating expense that...
B/E (Business EIDL) Loan
A business loan that...
Operating Leases
are deducted on the company’s...
Lien
A legal claim against an...
Fair and Reasonable Price
A price that is fair to both parties...
Credit Score Test
Part of the home loan CET show a...
Available Asset Test
Part of the CET that determines if an applicant(s) has...

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