SBA Update! COVID-19 Disaster Loans Now Available in Texas

Houston District Office  - March 2020

u s small business administration

SBA Economic Injury Disaster Loans now open for Texas Small Businesses

COVID-19: Guidance for Small Businesses  sba.gov/coronavirus

 

Texas small business can now apply for SBA Economic Injury Disaster Loans (EIDL) to help with the COVID-19 crisis.

What's an EIDL?

  • The SBA EIDL program can provide low-interest loans of up to $2M to businesses and private non-profits.
  • EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills. 
  • The interest rate is 3.75% for small businesses without credit available elsewhere. The interest rate for non-profits is 2.75%.
  • EIDLs have long-term repayment options, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based on borrower's ability to repay.

How do I apply?


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