Small Business Emergency Loan & Grant
***SBA loan - EIDL Economic Injury Disaster Loans

  • 12/22/20 update... $20 million is available again for Part 1 advances below for businesses in low income communities.  DETAILS MAY CHANGE as Congress works to make additional changes.
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  • ​Do I qualify?  Yes, if your business was adversely affected (or you face economic uncertainty... you might be affected in the future) by a Covid-19 related government stay at home order that affects you or your customers...  that's most PA businesses.
    • includes a business with payroll
    • includes sole proprietorships with and without payroll
    • includes commercial & residential landlords with lost rents (or predicted lost rents).
    • requires less than 500 employees
  • Part 1 - Up to $10k grant (AVAILABLE AGAIN; BUT ONLY FOR LOW INCOME COMMUNITIES) when you apply for this loan (it takes a while to receive the money...  up to 8 weeks for some)...  does not need to be repaid!  Read this entire section before applying.
    • Chrome won't work, use Internet Explorer instead.
    • Click on this link to apply...  https://www.sba.gov/page/disaster-loan-applications#section-header-0
      • ​Then click on COVID-19 EIDL Loan and Advance Application "Apply Here" blue box.
      • ​If you are self-employed person without employees, you need to answer 1 employee (yourself) in order to get paid.  
      • check the box for "emergency economic injury grant" on the online application.
    • $10k must be used for payroll, mortgage or rent payments, other debt payments. 
    • The free grant money is taxable income.
    • They reduce the requested loan amount by the free up to $10k.
  • Cares act removed the affiliation clause…  each business can apply for their own loan/grant even if owned by the same owner(s).  So it is possible for one person to submit several $10k or EIDL loan applications for multiple entities with different EINs.
  • You can apply for both EIDL  and PPP but the up to $10k grant will reduce your PPP loan forgiveness amount.
  • Part 2 - EIDL Loan amounts
    • They will notify you much later by email whether or not you have been approved to complete the rest of your application for the EIDL loan.  This part would need to be repaid. 
    • 3.75%, up to 30 year term, up to $2 million
    • working capital loan
    • must be used for Payroll, operating expenses, debts, accounts payable.  This appears to cover anything at all that the economic downturn made it difficult to pay.
    • ​approval is based solely on applicant's credit score (but you still get to keep the free $10k even if your denied).