An SBA economic injury disaster loan (EIDL) is for small businesses, small agricultural cooperatives, and most private nonprofit organizations located in a declared disaster area and which have suffered substantial economic injury may be eligible for an SBA Economic Injury Disaster Loan (EIDL). An EIDL is a short to medium term loan which will provide funds to cover normal operating expenses during the recovery period. Also available to nonprofits, this loan might be used to cover rent or payroll, or to pay vendors.
If you have suffered substantial economic injury and are one of the following types of businesses located in a declared disaster area, you may be eligible for an SBA EIDL:
- Small business
- Small agricultural cooperative
- Most private nonprofit organizations