Federal Programs for Businesses Relief

To support our small business and nonprofit customers, we're maintaining a list of federal resources that may available to you if your business has been affected by COVID-19.

Economic Injury Disaster Loans and Loan Advance

Loans of up to $2M and loan advances of up to $10,000 for small businesses harmed by COVID-19

The SBA Economic Injury Disaster Loan Program offers low-interest federal disaster loans for working capital to certain small businesses suffering substantial economic injury as a result of COVID-19.

Loan terms:

  • Loans up to $2M with rates of 3.75%, or 2.75% for nonprofits
  • Loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid due to COVID-19
  • Repayment terms of up to 30 years 

Loan advance:

  • Loans advances of up to $10,000
  • Loan advance does not need to be repaid
  • Funds made available within three days of a successful application

What you need to apply:

  • 2019 tax return if filed, OR
  • 2019 year-end profit/loss statement and balance sheet with most recent tax filing
  • 2020 YTD profit/loss statement

Where to apply:

Complete an application on the SBA website.