SBA Economic Injury Disaster Loans (EIDL)
An additional financing resource available to businesses is the SBA Economic Injury Disaster Loan (EIDL). California has declared a State of Emergency, so your business is eligible for this financing program. Brief overview:
You apply directly to SBA for EIDL online, https://covid19relief.sba.gov/#/
Working capital loans up to $2 Million for sustain business continuity
3.75% for 30 years
Can request $10,000 loan advance
No pre-payment penalty
There is no cost to apply
Instructions and forms can be found at https://www.sba.gov/disaster/apply-for-disaster-loan/index.html
Please contact our local Small Business Development Center for assistance with these resources: www.solanosbdc.org 707-646-1071.
Searching for an eligible lender? Try this link at the SBA:
https://www.sba.gov/paycheckprotection/find
Files you can download (PDF)
