Economic Injury Disaster Loan Assistance

Small business owners in all U.S. states, Washington D.C., and territories are currently eligible to apply for a long term low-interest loan due to Coronavirus (COVID-19).

The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

Apply Online

Apply online at:


SBA will look at:

  • Credit
  • Repayment abilities
  • Located in a declared area
  • Collateral:  under $25k loan, no need for collateral

Loan Info

  • $2M limit per business, even those that have multiple locations, it will still probably be a $2M limit
  • 3.75% small business interest rate; 2.75% to private non profits
  • All loans will be for 30 years
  • Can be paid off early with no penalties
  • Loan payments deferred for 12 months
  • SBA Form 5 is for businesses, SBA Form 5C. is for Sole Props
  • Application will still move forward even though the applicant hasn’t uploaded rom IRS Form 4506T or tax returns.  They will be needed at some point, but the application won’t get stuck if not uploaded at time of submit.

Forms area also available on SBA website to SBADownloadPaperForms. You may find it helpful to preview the information requested in the application process. If you have difficulty accessing these, pick up an application at our Navarro SBDC in Corsicana, TX. Paper Form Applications can be mailed to:

The Disaster Loan Application Portal is at

U.S. Small Business Administration
Processing and Disbursement Center
14925 Kingsport Rd.
Ft. Worth, TX 76155-2243

If you have any questions, please contact SBA 1-800-659-2955

Paycheck Protection Program

An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.

Loan Information

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.

SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.

Lenders may begin processing loan applications as soon as April 3, 2020. The Paycheck Protection Program will be available through June 30, 2020.

For affiliation rules applicable for the Paycheck Protection Program, click here.

Who Can Apply

This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19.

Businesses in certain industries may have more than 500 employees if they meet the SBA’s size standards for those industries.

Small businesses in the hospitality and food industry with more than one location could also be eligible if their individual locations employ less than 500 workers.

Loan Details and Forgiveness

The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.

Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels.  Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.

This loan has a maturity of 2 years and an interest rate of 1%.

If you wish to begin preparing your application, you can download a copy of the PPP borrower application form to see the information that will be requested from you when you apply with a lender.

Do you have an existing SBA loan? Ask your lender or CDC about deferment options available.

Disaster Handout Resources

SBA Small Business Resources & Guidance (COVID19)

Slow the Spread – Presidents Guidelines

Texas Workforce Commission Employer Resources for pandemic.

Agency Resources and Hotline Contact Information: Below, please find agency-by-agency information, guidance, and contact information.

Resources – Below, please find agency-by-agency resources and guidance.

  • U.S. Department of Health and Human Services (here)
  • U.S. Department of Education (here)
  • U.S. Department of Agriculture (here)
  • U.S. Department of Labor (here)
  • U.S. Department of Homeland Security (here)
  • U.S. Department of State (here)
  • U.S. Department of Veterans Affairs (here)
  • U.S. Environmental Protection Agency (here)
  • U.S. Small Business Administration (here)
  • Centers for Medicare and Medicaid (here)

Contact us SBDC’s for assistance to navigate the changes.