SBA Economic Injury Disaster Loans (EIDL)

The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).

Small businesses can apply directly to the SBA at https://disasterloan.sba.gov/

These loans may be used to pay the following expenses that cannot be met because of the COVID-19 impact:

Information regarding the loan process and required documents needed to file is outlined in the SBA’s 2-page document: Three Step Process SBA Disaster Loans

What are the rates and terms? 

Required Forms & Documentation

Forms and additional information available at: https://disasterloan.sba.gov/ela/Information/PaperForms

How can Alerus help?

Alerus is here to help you navigate the application process. While businesses will apply for these loans directly to the SBA, you can reach out to us for guidance and with questions.

The most up-to-date website on SBA’s Disaster Assistance in response to Coronavirus (COVID-19) is: https://www.sba.gov/coronavirus