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SBA loan program reopens and funds are available!

Small Business Administration now accepting new applications for Economic Injury Disaster Loans and Advance

Post Date:06/16/2020 1:30 PM

Businesses can once again apply for a Small Business Administration (SBA) loan program that was paused in mid-April. SBA has reopened its application portal for the Economic Injury Disaster Loan, re-establishing a vital funding lifeline for businesses that may have missed the original application period.

Businesses must apply soon: Funding is only available on a first-come, first-served basis, and it’s unclear how long funds will last.You apply directly to the SBA – there’s no need to work with a bank.SBA

Small businesses may also apply for an EIDL “Advance,” equal to $1,000 per employee of the business (up to a maximum of $10,000), which may not have to be paid back. You can get more information and apply here

If you’ve already been denied an EIDL loan, you may want to attend an SBA program on June 18 on EIDL Loan Reconsideration

If your business is in San Jose and you have questions, please email us at covid19sjbusiness@sanjoseca.gov


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