I am hosting a Zoom meeting on Friday, April 3, 2020 at 1:00 PM to provide guidance and assistance to any small business, contractor, or gig worker who needs help with this application. As you can see below, the Economic Injury Disaster Loan Advance does not have to be paid back.
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.