Economic Injury Disaster Loan

The EIDL has been around for a long time for people to use when there is a disaster like a hurricane or tornado.  The federal government declared the COVID-19 pandemic as a disaster so small businesses can use the EIDL to get a loan that may be forgiven.  To apply you need to go to the Small Business Administration website and apply for it.

Unfortunately, there has been an overwhelming response to it and they are no longer taking new applications.  If you were lucky enough to get an application in, then you should get an email from them with instructions.  It appears they are giving out $1,000 per employee to a maximum of $10,000 in order to help as many as they can.  They say they are processing them on a first come, first serve basis.