Economic Disaster Relief Loan

We trust that everyone is safe and well.

Today’s discussion is on the Economic Disaster Relief Loan (EDRL) Program, which is a long-standing program offered directly by the SBA for businesses located in Federally Designated Disaster Areas.   

A key additional element added by the CARES Act is a $10,000 grant available to all applicants, regardless of eligibility for additional funding. This can be a valuable (and quick) infusion of needed working capital at a time when funds are tight.   

So, even if you don’t think you will need a disaster loan (EDRL), it is important that you apply.   

The simple 3-page application can be found by clicking here. You will be asked to provide some basic information about your company and 2 pieces of financial information:

                Gross receipts for the 12 months from 2/1/19 to 1/31/20

                Cost of Goods sold for the 12 months from 2/1/19 to 1/31/20

You also must check the box requesting a grant of $10,000.   

Simply by submitting the completed application, you will receive the $10,000 grant, even if you are denied the loan. If you are accepted for a loan, later you can decline. If you do decide to move forward with an EDRL, you may want to contact our office to determine if this is a good fit for you.