Presenter: Ili Spahiu, Assistant District Director for Lender Relations, Massachusetts District Office, U.S Small Business Administration
FREE Webinar for Accredited Businesses Reservations Required
Are you a small business that has suffered substantial economic injury as a result of the coronavirus (COVID-19)? If so, please join us for this free webinar that will provide an overview of SBA's Economic Injury Disaster Loan Program.
The SBA's disaster declaration makes loans available due to the Coronavirus (COVID 19). This webinar will cover:
Basic loan eligibility requirements
Basic criteria for loan approval
Loan terms, including loan amount, use of loan funds, and repayment
How to apply for a loan, and helpful tips
Assistance form SBA Partners
The Small Business Administration (SBA) has made an important adjustment to the terms of its Economic Injury Disaster Loan Program (EIDL). Moving forward, EIDL loans will defer payments for the first year (twelve months) of the loan. This is a change from the initial loan structure, which allowed payment deferral for four months. SBA EIDL loans are for small businesses and private non-profits (of any size) that were previously profitable, but whose revenues have been adversely impacted by the outbreak of COVID-19 (since January 31, 2020). Loans can be up to $2 million and have a long-term repayment schedule of up to 30 years. Businesses may apply for the program at https://disasterloan.sba.gov/ela.
Register to join your BBB and the SBA to learn more about this load and how your business can apply.