Updated: Apr 9, 2020
The U.S. Small Business Administration (SBA) has set aside $50 billion in low-interest Economic Injury Disaster Loans (EIDL) for “on-going” small businesses affected by the Coronavirus. Individual businesses may apply for up to $2 million per loan.
**The EIDL program was made available to New Jersey small businesses on 3/18/2020.
Please Note: The EIDL loans are not for a loss of income but to keep your businesses “afloat’ during this Coronavirus crisis. (i.e.: lease payments, equipment, operating assistance, employee wages, etc.).
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More Info on the SBA’s Economic Injury Disaster Loans (EIDL)