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Economic Development Collaborative (EDC) — COVID-19 Economic Injury Disaster Loan Program

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COVID-19 ECONOMIC INJURY DISASTER LOAN PROGRAM
CLOSING 12/31/2021
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 (COVID-19 EIDL). The loan is directly from the United States Small Business Administration (SBA) that must be repaid; low-interest, fixed-rate, long-term loan to help overcome the effects of the pandemic by providing working capital to meet operating expenses. Click here to learn more.
Recent COVID-19 EIDL Updates
The SBA recently announced that the following updated guidance for the COVID-19 Economic Injury Disaster Loan program applicants to better serve small business owners in need, while funding remains available:
  • EIDL applications will be accepted until December 31 and will continue to be processed after this date until funds are exhausted.
  • Borrowers can request increases up to their maximum eligible loan amount for up to two years after their loan origination date, or until the funds are exhausted, whichever is soonest.
  • The SBA will accept and review reconsideration and appeal requests for COVID EIDL applications received on or before December 31 if the reconsideration/appeal is received within the timeframes in the regulation. This means six months from the date of decline for reconsiderations and 30 days from the date of reconsideration decline for appeals – unless funding is no longer available.
Resources
  • To learn more about the requirements and how to apply CLICK HERE.
  • Questions before you apply? Connect with one of our financial advisors to receive NO-COSTbusiness consulting on the COVID-19 EIDL Program. Call our Business Assistance Line at 805.409.9159 to become a client and set up an appointment with one of our advisors. All resources and advising are available in English and Spanish.
Looking for NO-COST Business Consulting Services?
The EDC SBDC call team and experienced advisors are available to answer questions and help you navigate today’s complex business environment. The Economic Development Collaborative hosts the Small Business Development Center and is funded in part through a cooperative agreement with the U.S. Small Business Administration. Signing up as a client takes just a few minutes and provides you with lifetime access to all of our no-cost services.
Get started today with no-cost consulting by calling our
Business Assistance Line at 805.409.9159.
Resources and advising are available in English and Spanish.
Stay up-to-date on local, state and federal resources related to the pandemic by visiting our COVID-19 Business Resource page regularly CLICK HERE.
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