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.
Equity
An accounting term used to...
Liabilities
A financial obligation...
Guarantor
The legal entity and...
Affiliated Group
When two or more...
Mentor
A business, usually large, or...
Income Statement
Shows the entity’s income and...
Negotiation
Contracting through the use of...
Small Disadvantaged Business Concern
A small business concern that...
Cash-basis Accounting
records revenue when cash is...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Duplicated Interest
The amount of interest exp...
Joint Venture
In the SBA Mentor-Protégé Program...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Certificate of Competency
A certificate issued by the Small Bus...

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