SBA COVID Economic Injury Disaster Loan (EIDL) program

Does your small business need cash to help recover from the pandemic? Learn about how to apply for a EIDL Advance (grant) and low interest loan from the US Small Business Administration!

Are you a small business owner / manager? Is your business still struggling due to the COVID-19 pandemic? DCEO is partnering with the staff of the SBA offices in Illinois to share an update on the SBA COVID Economic Injury Disaster Loan (EIDL) program. In this 1 hour webinar, you will learn about new enhancements to the SBA COVID EIDL program including:

  • Eligibility to receive up to $15,000 in Advance funding from SBA that does not need to be repaid (Targeted EIDL Advance and Supplemental Targeted Advance).
    • “Advances” are similar to a grant, but without the typical requirements that come with a U.S. government grant.
    • To receive an advance, you must first apply for a COVID-19 EIDL. You do not need to accept the loan or be approved for the loan to receive an advance. Once you apply for the loan, SBA will invite you via email to apply for one of the advance programs if your business is located in a low-income area.
  • The maximum loan amount for borrowers has increased from $500,000 to now up to $2 million.
  • Loan pay back is now deferred for 24 months.
  • The eligible uses for these loan funds has been expanded.
  • Historically low interest rates.

You will also learn about where and how to apply for a SBA COVID EIDL Advance and loan and about other SBA programs that can help your business recover from the pandemic. Click below to sign up for this no-charge webinar!

Who is this webinar for: Small business owners and managers.

Register here: