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Posted on: March 19, 2020

SBA Economic Injury Disaster Loans now open for Indiana Small Businesses

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Subject: SBA (Small Business Administration) Economic Injury Disaster Loans Now Available for Indiana Small Business

 

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

·     Need help? Access these step-by-step online instructions

·     Still need help? Call the SBA’s Disaster Customer Service Center at 800-659-2955 or email disastercustomerservice@sba.gov. Individuals who are deaf or hard-of-hearing can call 800-877-8339.

 

https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources?utm_medium=email&utm_source=govdelivery

 

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 click on buttons below).

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