How the SBA’s EIDL loan can still help your business

The SBA’s Economic Injury Disaster Loan program has undergone major updates that have provided the agency more capacity to process loans with greater speed, and for business owners many new beneficial aspects.

For instance:

  • Higher loan amounts are available for new applications or requests for increases.
  • Increased flexibility for use of funds.
  • Automatic payment deferrals for 24 months from loan origination.
  • Simplified affiliation rules for all industries.
  • Additional accommodations for industries that continue to experience significant economic hardships.

You’ll learn about the terms of the loans and requirements including:

  • Minimum credit score
  • Collateral requirements
  • Personal guarantee requirements
  • Required documentation

Presenters from the Connecticut SBA District Office
— Catherine Marx, CT District Director, SBA
— Julio Casiano, CT Deputy District Director, SBA

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