Financial assistance is available for small businesses to help increase cash flow during the pandemic and resulting economic crisis.

WHAT HELP IS THERE?

  • The SBA Economic Injury Disaster Loan (EIDL) program provides low-interest loans up to $10M 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 and 2.75% for non-profits.
  • Long-term repayment options up to 30 years are available.
  • Terms are determined on a case-by-case basis based on the borrower’s ability to repay.

IS MY COMPANY ELIGIBLE?

  • Underwriting is more lenient than typical SBA programs.
  • No minimum credit score is required.
  • Your company must be able to prove that it would have been able to repay the EIDL, had its business continued without the crisis happening.
  • Your company must have suffered working capital losses during this economic crisis.

HOW DO I APPLY

  • Complete the economic injury worksheet (this will speed up the process)
  • Online at gov/disasteror ##.
  • Need help? Access these step-by-step online instructions.
  • Still need help? Call the SBA’s Disaster Customer Service Center at 000-659-0000 or email info@lssenterprises.ae. Individuals who are deaf or hard-of-hearing can call
    000-877-8309.

As with everything relating to this pandemic, things are changing rapidly. For updates on financial assistance that is available to small businesses, please visit www.sba.gov.