active Federal Loan

SBA Economic Injury Disaster Loan (EIDL)

Small Business Administration

Up to $2,000,000

See if you qualify — free Visit official program ↗

Researched for this program: 5 rejection traps · 7 required documentsWhat decides this award ↓

The short version

Disaster working capital at low rates

Low-interest federal disaster loans for small businesses, private nonprofits, and agricultural cooperatives that suffer substantial economic injury following a presidential or SBA disaster declaration. Loans cover working capital — payroll, rent, accounts payable — when a declared disaster causes revenue loss. The COVID-19 EIDL is permanently closed; this record covers the standard disaster EIDL only. Loans up to $2M at 3–4% interest with up to 30-year terms.

Funding type: Loan
Level: Federal
Amount range: $1,000 – $2,000,000
Realistic amount: Median EIDL awards following major disaster declarations have historically ranged $50,000–$200,000. The $2M cap applies…
Deadline: Disaster-specific — application window opens on declaration date and closes based on disaster type (typically 9 months for economic injury). Check sba.gov/disaster for active deadlines.
Status: active
States: Nationwide
Payment model: advance

Who qualifies

Located in a county (or contiguous county) covered by an active SBA or Presidential Disaster Declaration
Small business meeting SBA size standards for your industry (NAICS-based — typically <500 employees for manufacturing; revenue thresholds for services)
Private nonprofit organizations (501(c)(3) and similar — most eligible)
Small agricultural cooperatives and aquaculture enterprises (not individual farmers, who use USDA Farm Service Agency programs)
Must demonstrate 'substantial economic injury' — inability to meet ordinary and necessary operating expenses as a result of the disaster
Must be unable to obtain credit elsewhere at reasonable terms without SBA assistance
Owner(s) of 20%+ must provide personal guarantee
No delinquency on existing SBA loans or federal obligations
Must have a satisfactory credit history (SBA reviews personal and business credit)

Hard requirements

Requires federal certification:

What it covers

Eligible expenses

Payroll costs (wages, salaries, commissions, employee benefits) for disaster period
Rent and lease payments for business premises
Fixed debt payments (mortgages, equipment loans, term loans) — ordinary obligations the business cannot meet due to the disaster
Accounts payable — supplier invoices and normal trade obligations
Operating expenses: utilities, insurance premiums, professional services
Federal, state, and local tax obligations
Inventory replacement needed for ongoing operations

Ineligible expenses

Expansion of the business beyond pre-disaster scope
Refinancing existing long-term debt not related to the disaster
Repairing or replacing physical property (use SBA Physical Disaster Business Loan instead)
Payment of dividends, bonuses, or owner distributions
Repaying loans owed to principals or owners
Paying down federal debt obligations (taxes owed to IRS)
Relocation expenses (without SBA written approval)
Costs that duplicate FEMA assistance already received

How to apply

1

Confirm an active disaster declaration covers your location

Go to sba.gov/disaster and search for active declarations by state or disaster number. Verify your county (or an adjacent county) is listed in the declaration. If the disaster is fresh, check daily — SBA often adds counties after the initial declaration.

~1 hrs
2

Apply online at the SBA Disaster Loan Assistance portal

Create an account at disasterloanassistance.sba.gov and complete the online application. You'll need: business tax returns (3 years if available), personal tax returns for 20%+ owners, a list of business assets and liabilities, a personal financial statement (SBA Form 413), and a description of how the disaster caused economic injury. The online portal saves your progress — you can return to complete it.

~8 hrs
3

SBA verifies loan eligibility and orders appraisal

SBA processes your application, checks credit, and orders property appraisals for loans over $500K requiring real estate collateral. For most working-capital-only EIDLs under $500K, no appraisal is required — SBA relies on filed tax returns and the business asset schedule. SBA may request additional documentation via the online portal.

~2 hrs
4

Review and sign Loan Authorization

If approved, SBA sends a Loan Authorization and Agreement detailing the amount, interest rate, term, collateral, and use-of-proceeds restrictions. Review carefully — you may accept a lower amount than offered if collateral requirements are a concern. Sign electronically through the portal.

~2 hrs
5

Receive funds and comply with reporting requirements

First disbursement (often $25,000–$50,000) arrives within 3–5 days of loan closing. Subsequent draws are available through the portal. Maintain records of all disaster-related expenses — SBA may audit use of proceeds. File annual financial statements with SBA for the loan term.

~2 hrs

Insider tip

Apply immediately after a declaration — SBA's processing speed drops sharply after the first 60 days as volume spikes. Even if you're uncertain, submit early and withdraw later; early applicants receive priority disbursement.

Deadline & timing

EIDLs are NOT available on a rolling basis. A presidential major disaster declaration or SBA disaster declaration must first be issued for your county or an adjacent county. Once declared, SBA opens the EIDL application window — typically 8–12 months. Applications for natural disasters (hurricanes, floods, wildfires) follow FEMA declarations. Monitor sba.gov/disaster for active declarations. COVID-19 EIDL (Portal ID COVID19) is permanently closed as of May 2023.

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