Economic Injury Disaster Loan (EIDL)

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Dec. 27th Update: The new stimulus package includes another $20 billion for EIDL Advance grants. Eligible businesses, independent contractors, gig workers, and self-employed individuals are eligible for up to $10,000 in grants (not required to be repaid) if:

  1. They are located in a low-income community;

  2. They suffered an economic loss of greater than 30% during an 8-week period between March 2, 2020, and December 17, 2021, relative to a comparable 8-week period immediately preceding March 2, 2020, or during 2019

  3. They employ not more than 300 people

  4. They are a qualifying business, such as a small business, private non-profit, sole proprietorship, or independent contractor

  5. They were in operation by January 31, 2020.

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