SBA’s Economic Injury Disaster Loan Program (EIDL)


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Revised 1/4/2021

The EIDL LOAN application has been extended through December 31st, 2021The Advance/Grant is not currently available.

The loan application deadline has been extended to December 31st, 2021

Who can apply?
In order to be eligible, you must be a small business (in most industries, 500 employees or less).

  • Maine small businesses directly affected by the disaster – common eligible businesses including retailers, restaurants, tourism-based businesses, manufacturers, owners of rental property, hotels, wholesalers, and many more.
  • Private nonprofits
  • Small agriculture cooperatives are eligible, but agricultural enterprises are not
  • Small aquaculture businesses

How to Apply?
You can apply for this loan on the SBA’s website. You must complete the application in one sitting. More info or to apply, click here.

How do I access the $10,000 emergency cash advance?
The EIDL advance is no longer available

How can the loan be used? 
The loans are for working capital which includes fixed debts, payroll, accounts payable, and other bills that can’t be paid due to the disaster’s impact. It does not cover lost sales.

How much can I apply for?
You will not be asked how much you would like to borrow. The SBA uses the information you provide to determine the loan and advance amounts. Small businesses can receive a secured loan of up to $2 million, and an unsecured loan of up to $25,000.

What is the lending criteria?

  • Credit History – Applicants must have a credit history acceptable to SBA. The SBA will look at extenuating circumstances and consider the impact of the pandemic on the business.
  • Repayment – As with all loans, you will need to prove you have the ability to repay. The repayment term can be as long as 30 years.
  • Collateral – To get loans greater than $25,000, you must provide collateral. Loans under $25,000 can be unsecured.

    Other helpful info:

    • If you need to check the status of your application, email disastercustomerservice@sba.gov or call (800) 659-2955. 
    • You can get an SBA Disaster Loan and a Paycheck Protection Program loan (PPP), but the funds received from the loans cannot be used for the same purpose.

      Need help? Contact your SBDC advisor. Request advising here.