March 19, 2020
Economic development partners – Thanks to the hard work of our State partners, Indiana is the first in the region to be designated as an eligible area for SBA Economic Injury Disaster Loan assistance for COVID-19. Please share the below and attached information with your small businesses and encourage them to apply AS SOON AS POSSIBLE. As more information becomes available, we will deliver through our subscriber network and post via Twitter @SBA_Indiana.
For detailed information on SBA programs for the coronavirus, visit www.sba.gov/coronavirus and for information on all federal programs, visit www.usa.gov/coronavirus or www.gobierno.usa.gov/coronavirus (en Español).
Economic Development Specialist
Indiana District Office
U.S. Small Business Administration
(317) 226-7272 x128
(317) 995-1791 (Cell)
SBA Economic Injury Disaster Loans Now Open for Indiana Small Businesses
Thanks to a concerted effort by our partners throughout the state, Indiana small businesses can now apply for SBA Economic Injury Disaster Loans (EIDL).
What's an EIDL?
The SBA EIDL program can provide low-interest loans of up to $2M to businesses and private non-profits.
EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills.
The interest rate is 3.75% for small businesses without credit available elsewhere. The interest rate for non-profits is 2.75%.
EIDLs have long-term repayment options, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based on borrower's ability to repay.
How do I apply?
Online at SBA.gov/disaster
Still need help? Call the SBA's Disaster Customer Service Center at 800-659-2955 or email firstname.lastname@example.org. Individuals who are deaf or hard-of-hearing can call 800-877-8339.
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