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SBA Disaster Loan

SBA Disaster Loan

President Trump announced an aid package to support small businesses impacted by the Coronavirus emergency, including a major block of federally sponsored funding to small businesses through the Small Business Administration. This morning, we spoke to Deputy District Director L.D. Ralph of the Alabama office of the Small Business Administration this morning to clarify SBA’s role in the $50 Billion special dispensation to support loans to impacted businesses. The following summarizes the SBA’s response.


SBA will administer loans to impacted businesses through the Economic Impact Disaster Loan (EIDL) Program, which is a direct lending program through the SBA:

  • The loan program provides capital to businesses impacted by natural disasters, such as weather events, floods, or other broad scale crises
  • Loans of up to $2 million are available at very low rates (often 2 to 4%) for up to 30 year terms
  • Loan proceeds can go towards working capital or fixed capital as needed based on situation and qualifying condition
  • On a case by case basis, loans offered under this program may have a forgiveness clause as a feature
  • In order for businesses to gain access to the program, they must be within an area that has been designated as an impacted area (state of emergency) by the Governor of the impacted state


This program is offered directly through the SBA and not partner banks (this means I cannot do the loans)


  • Go to or for more information
  • Additional questions can be answered by the SBA Disaster Loan processing center at 1-800-659-2955

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