Main menu

Coronavirus (COVID-19): FAQ Economic Injury Disaster Loan (EIDL)

Frequently Asked Questions

Economic Injury Disaster Loan (EIDL)

Question: Congress passed disaster loans for small businesses. What happens now?  

Answer: SBA is working directly with Governors to provide targeted, low-interest loans to small businesses and private nonprofit organizations that have been severely impacted by the Coronavirus (COVID-19) outbreak.



Question: My state received approval, but it wasnt state-wide. Will SBA allow more counties to be approved?

Answer: In some instances, state-wide declarations are not being made. Instead, they are on a county basis. If your state is experiencing new cases in undeclared counties after an SBA approval, Governors can amend their approved declaration by working with SBA on the county-specific findings.


Question: My state received approval so where do small businesses apply?

Answer: Small businesses in eligible areas may apply for an EIDL online at: or they can also reach out to their local SBA District Offices.


Question: If small businesses need help with their applications, are there any other resources available to help them fill out the applications?

Answer: SBA has also coordinated with the Resource Partners, including Small Business Development Centers, (SBDCs)who can assist with the application process. The list of SBDCs is available online at:


Question: How do I know if a small business is eligible?

Answer: SBAs Office of Disaster Assistance works with state emergency management divisions to certify certain areas as an eligible area.”

  • The list of eligible areas is also available online at
  • The list is updated periodically and on the same day, a new declaration is approved.
  • Your state may not have been approved yet but a county in your state may have been approved as a contiguous county on a neighboring states approval, which allows small employers in those counties to apply for loans.
  • Please check often to see if your area has been added even if your state has not been formally approved.



Question: What is an Economic Injury Disaster Loan?

Answer: The SBAs Economic Injury Disaster Loan (EIDL) program provides small businesses with working capital loans of up to $2 million to help overcome the temporary loss of revenue.

  • The loans may be used to pay fixed debts, payroll, accounts payable, or other bills that cant be paid because of the COVID-19 outbreak.
  • The interest rate is 3.75 percent for small businesses without credit available elsewhere, and businesses with credit available elsewhere are not eligible to apply for assistance.
  • The maximum term is 30 years.
  • A small business is defined by the SBAs Size Standards in accordance with the Native American Industry Classification System (NAICS) codes and SBAs Size Standards Tool can be utilized.



Question: Whats the timeline like?

Answer: Once a borrower applies, approval timelines depend on volume. The typical timeline for approval is 2-3 weeks and disbursement can take up to 5 days. Borrowers are assigned individual loan officers for servicing of the loan.



Question: Where can I find more information?

Answer: For additional information, borrowers should contact the SBA Disaster Assistance customer service center by calling 1-800-659-2955 or emailing

They can also visit for more information.