Economic Injury Disaster Loans (EIDL)

In response to COVID-19, small business owners, including agricultural businesses, and nonprofit organizations in all U.S. states, Washington D.C., and territories can apply for the COVID-19 Economic Injury Disaster Loan (EIDL).

Loan Details



To meet financial obligations and operating expenses that could have been met had the disaster not occurred


For loans approved starting the week of April 6, 2021: 24-months of economic injury with a maximum loan amount of $500,000.

For loans approved prior to the week of April 6, 2021, see loan increases.


  • 3.75% for businesses (fixed)
  • 2.75% for nonprofits (fixed)
  • 30 years
  • No pre-payment penalty or fees


Working capital and normal operating expenses

Example: continuation of health care benefits, rent, utilities, fixed debt payments.


  • Required for loans over $25,000
  • SBA uses a general security agreement (UCC) designating business assets as collateral, such as machinery and equipment, furniture and fixtures, etc.


  • NO – EIDL Loan
  • YES – EIDL Advance*

*Advance funds have been fully allocated and are not currently available


30 years


Borrower may make payments if they choose to do so.

Set up online payments through Pay.gov OR mail payments to:

U.S. Small Business Administration
721 19th Street
Denver, CO 80202

Be sure to include EIDL loan number on mailed-in checks.



Applicants must be physically located in the United States or designated territory and suffered working capital losses due to the Coronavirus pandemic. Eligible applicants include:
• Businesses with 500 or fewer employees or defined as small per sba.gov/SizeStandards

• Cooperatives with 500 or fewer employees
• Agricultural enterprises with 500 or fewer employees
• Most private nonprofits
• Faith-based organizations
• Sole proprietorships and independent contractors


The following qualification is required

  • Credit Score should be 600+ 
  • Located in a low-income community 
  • Required to provide tax return file-based 2-3 years 


Application Process

There are four steps in the COVID-19 EIDL application process:
1. Apply online through Uptrend Credit

2. Receive Loan Quote. This is an estimate of a qualified loan amount; it does not mean the loan is approved. Applicant needs to choose loan amount up to this maximum.

3. Application Review. A Loan Officer will review the application for completeness and may contact the applicant if more information is needed.

4. Decision. A decision is made as to whether the application is approved or declined.

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