May 31, 2020

Businesses can apply for Economic Injury Disaster Loans

Thomas A. Stith, III, Small Business Administration North Carolina District Director, related the following information to area businesses this week:

In the wake of the COVID-19 disaster declaration, the SBA North Carolina District Office has been working tirelessly to ensure details regarding SBA’s disaster assistance programs are distributed to the citizens of North Carolina.

Please take this opportunity to review the below message regarding Economic Injury Disaster Loan applications.

Message to EIDL Applicants:

We know you are facing challenging times in this current health crisis. The U.S. Small Business Administration is committed to help bring relief to small businesses and nonprofit organizations suffering because of the Coronavirus (COVID-19) pandemic.

On March 27, 2020, President Trump signed into law the CARES Act, which provided additional assistance for small business owners and non-profits, including the opportunity to get up to a $10,000 Advance on an Economic Injury Disaster Loan (EIDL).

• To qualify for the Advance on your EIDL, visit www.SBA.gov/Disaster to fill out a new, streamlined application.

• The Advance may be available even if your EIDL application was declined or is still pending, and will be forgiven.

To apply for the Advance, you need to submit a new application even if you previously submitted an EIDL application. Applying for the Advance will not impact the status or slow your existing application.

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