In response to the Coronavirus (COVID-19) pandemic, small business owners and non-profit organizations in all U.S. states, Washington D.C., and territories are able to apply for an Economic Injury Disaster Loan (EIDL). EIDL is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. EIDL proceeds can be used to cover a wide array of working capital and normal operating expenses, such as continuation to health care benefits, rent, utilities, and fixed debt payments.
The new eligibility for U.S. agricultural businesses is made possible by new authority granted by Congress in response to the COVID-19 pandemic.
Beginning Requirement
- 1 – 500 Employees
- Must have a business
- Business EIN
- SSN
- Business must be active before February 2020
- Business email
- Personal email
- Business phone number ( may be a cell phone)
- Not in child support arrears
- Must provide 2019 schedule c tax return
- February 2020 Bank Statement