COVID-19 Disaster Loans Now Available in Texas

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?

• Online at SBA.gov/disaster

• Need help? Call the SBA's Disaster Customer Service Center at 800-659-2955 or email disastercustomerservice@sba.gov. Individuals who are deaf or hard-of-hearing can call 800-877-8339

Source: SBA.gov