- What is the Economic Injury Disaster Loan?
- Clio Cares
UPDATE: The SBA is again accepting and approval applications for all businesses.
- The loan amount can be up to $2 million including the $10,000 CARES Act emergency forgivable advance.
- Loans have a 4% interest rate (max) and a maximum 30-year term.
- More information of the Economic Injury Disaster Loan Emergency Advance can be found here.
The Economic Injury Disaster Loan has been around for some time, but now includes a $10,000 CARES Act grant/advance for applicants that can demonstrate economic injury. Unlike the Payment Protection Program, this advance is not restricted to payroll.