New Applicants
The EIDL is a low-interest, fixed-rate, long-term loan to help overcome the effects of the pandemic by providing working capital to meet operating expenses.
Uses of Proceeds
Working capital to make regular payments for operating expenses, including payroll, rent/mortgage, utilities, and other ordinary business expenses, and to pay business debt incurred at any time.
Maximum Loan Amount
$2 million
Loan Term
30 years
Interest Rate
Businesses: 3.75% fixed
Private nonprofit organizations: 2.75% fixed
