- Purpose: SBA Economic Injury Disaster Loans offer economic assistance to help small businesses overcome the loss of revenue resulting from a disaster. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
- Amount: up to $2 million
- Term: repayment terms are up to 30 years. Loan amounts are set by the SBA and based on each applicant’s financial condition.
- Interest rates: for small businesses start at 3.75 percent; the interest rate for nonprofits is 2.75%.
- To apply, visit the SBA Disaster website.