To apply for a COVID-19 Economic Injury Disaster Loan, Click Here

If you need assistance applying for the loan call me at (415) 866 3440 or

Email me at /


In addition to the Coronavirus (COVID – 19) pandemic, small business owners in all U.S. states, Washington D.C., and regions are entitled to receive up to $10,000 in full for an Economic Disaster Loan. The SBA’s Economic Disaster Loan program provides small companies with up to $2 million in working capital loans and can offer critical economic assistance to small businesses to help them resolve their temporary lack of earnings.

The loan advance would offer economic support for businesses already facing a temporary reduction of revenue. Funds should be made accessible within three days of a positive filing, and no reimbursement of this loan advance is needed.

Individuals/Residents will also get Economic Disaster Loans in designated disaster zones.


The U.S. Small Business Administration is providing low-interest federal emergency grants for operating capital to small companies experiencing severe economic damage from Coronavirus (COVID-19) to U.S. states and territories. Upon an application obtained from the Governor of a state or jurisdiction, the SBA will grant an Economic Injury Disaster Loan Declaration under its own authority, as given by the Coronavirus Preparedness and Response Supplementary Appropriations Act recently signed by the President.

  • Any such declaration of assistance on Economic Injury Catastrophe Loan provided by the SBA allows loans accessible to small companies and independent, non-profit agencies throughout the state to help mitigate economic injury induced by the Coronavirus (COVID-19). This would extend to present and potential Coronavirus-related orders of disaster assistance.
  • The SBA’s Emergency Relief Office must work with the governor of the state or jurisdiction to request an application for help with the Economic Injury Crisis Loan.
  • After a declaration has been made, the details on the Economic Damage Disaster Loan assistance application procedure should be made accessible to eligible small companies throughout the state.
  • The SBA’s Economic Injury Disaster Loans provide compensation of up to $2 million which will provide critical economic relief to small companies to help mitigate the acute income loss they are facing.
  • These funds will be used to cover deferred expenses, wages, accounts payable, and other obligations which can not be charged due to the effects of the catastrophe. The interest rate for small companies is 3.75%. The non-profit interest rate is 2.75 percent%.
  • Economic Injury Disaster Loans from the SBA are only one component of the increased direction on organized recovery by the federal government, and the SBA is firmly dedicated to offering the most efficient and customer-focused solution imaginable.

The SBA offers small companies a debt relief as they resolve the problems generated by this medical crisis.

Other Options

Paycheck Protection Program (PPP):


The Paycheck Protection Program is a loan intended to provide the small companies with a strong opportunity to retain their employees on the payroll. If all workers are placed on the payroll for eight weeks and the money is used for salaries, deposit, mortgage interest, or electricity, SBA may repay loans.

You may apply through any current SBA 7(a) applicant, or any participating federally insured depository institution, federally insured credit union, and Farm Credit System institution. If they are accepted and registered in the system, certain limited borrowers may be eligible to make such loans. You can contact your nearest investor to see whether he is taking part in the program.

Lenders may begin processing loan applications as soon as April 3, 2020. The Paycheck Protection Program will be available through June 30, 2020.

Lenders may begin processing loan applications as soon as April 3, 2020. The Paycheck Protection Program will be available through June 30, 2020.


This system is designed for every small company with less than 500 workers (including sole proprietorships, independent contractors and self-employed persons), private non-profit corporation or coronavirus / COVID-19-affected service organizations 501(c)(19).

Businesses in certain sectors that have more than 500 workers if they follow the size requirements for such sectors established by the SBA.

Small businesses with more than one location in the hospitality and food sector may also be liable if their specific sites have less than 500 employees.

Loan Details & Forgiveness

The debt would be entirely forgiven once the funds are expended on payroll expenses, interest on deposits, rent and services (at least 75 percent of the money forgiven will have been invested on payroll due to possibly high subscription). Loan installments are often to be postponed by six months. No collateral or personal guarantees are available. Neither government nor borrowers would impose any fees for small companies.

Forgiveness is focused on the company retaining or rehiring workers efficiently and preserving pay rates. Forgiveness would be decreased if full-time headcount falls or incomes and salaries collapse.

This loan has a 2-year term and an interest rate of 1%.

SBA Express Bridge Loans

The Express Bridge Loan Pilot Program calls for easy access to up to $25,000 for small companies that already have a contractual partnership with an SBA Express Lender. These loans may offer crucial economic assistance to small enterprises in order to help them resolve their temporary lack of sales and may be a revolving loan or used to fill the void when filing for a direct SBA Economic Injury Disaster. If a small business is in desperate need of cash while awaiting an Economic Injury Disaster Loan judgment and disbursement, they can apply for an SBA Express Disaster Bridge Loan.

Terms Up to $25,000 Profits from the EIDL loan should be refunded in whole or in part.

SBA Debt Relief


As part of the debt recovery initiatives of SBA, The SBA must directly reimburse the balance, interest and fees of existing 7(a), 504, and micro-credits over a six-month duration.
The SBA would also immediately reimburse the balance, interest, and fees given prior to September 27, 2020 for new 7(a), 504, and micro-loans.

Additional Debt Relief

To new SBA Serviced Disaster (Home and Business) loans: As on 1 March 2020 the disaster loan was in “normal operation” status, the SBA must have mandatory deferments until 31 December 2020.

What does an “automatic deferral” mean to borrowers?

  • Interest will continue to accrue on the loan.
  • 1201 regular certificates of payment will begin to be sent out showing the debt is delayed and no payment is due.
  • The deferment does NOT cancel any existing Preauthorized Debit (PAD) or recurring loan payments. Responsible for canceling such regular payments are lenders who have developed a PAD through Pay. Gov or an Electronic Bill Pay program. Borrowers who had SBA set up a PAD via would need to call their SBA service bureau to cancel the PAD.
  • Borrowers who plan to start paying periodically throughout the deferment period may continue to send out payments throughout the deferment period. SBA would usually administer such awards as though there had been no deferment.
  • Borrowers would be expected to start making daily principal and interest payments during the default deferment duration. Borrowers who previously cancelled annual payments would have to reinstate the recurring charge.
To apply for a COVID-19 Economic Injury Disaster Loan, Click Here
If you need assistance applying for the loan call me at (415) 866 3440 or Email me at /
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