SBA Economic Injury Disaster Loans Now Available in Some California Counties Including San Diego and Imperial
The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to California small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19), SBA Administrator Jovita Carranza announced today. SBA acted under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, to declare a disaster following a request received from Gov. Gavin Newsom’s designated representative, Director Mark S. Ghilarducci of the Governor’s Office of Emergency Services on March 13, 2020.
The disaster declaration makes SBA assistance available in several California counties including San Diego and Imperial. See additional counties here.
If your county is not included in the declaration, contact your local SBA district office or your state's emergency management department to complete an SBA Economic Injury Worksheet.
“SBA is strongly committed to providing the most effective and customer-focused response possible to assist California small businesses with federal disaster loans. We will be swift in our efforts to help these small businesses recover from the financial impacts of the Coronavirus (COVID-19),” said Administrator Carranza.
SBA Customer Service Representatives will be available to answer questions about SBA’s Economic Injury Disaster Loan program and explain the application process.
About SBA Economic Injury Disaster Loans (EIDL)
EIDLs offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue.
Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19). These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
The interest rate is 3.75% for small businesses with long-term repayments to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
How to Apply
Be prepared with what is required to complete an online application. You can also connect with an SBA representative to walk you through the process.
The deadline to apply for an Economic Injury Disaster Loan is Dec. 16, 2020.
Additional Financing, Exporting and Advising Resources to Support Business Impacted by COVID-19
The SBA launched www.sba.gov/coronavirus to provide information about resources small businesses can access now to navigate their business through the COVID-19 pandemic.
This includes financing through SBA Loan Guarantee Program – working capital, microloans, express loans and lines of credit – and counseling services through the SBA Resource Partner Network to help businesses navigate preparedness plans.
Get Updates from the SBA About COVID-19 Support
- • Visit www.sba.gov/coronavirus for guidance and resources
- • Check www.sba.gov/disaster for updates specific to SBA Economic Injury Disaster Loans
- • Follow us on Twitter at @SBAgov or @SBA_SanDiego
- • Subscribe to email updates
Contact your local SBA office
Business owners can apply for the disaster loan online at https://disasterloan.sba.gov/ela/Account/Login.
1-800-659-2955 (SBA Customer Service Center)
1-800-877-8339 (TTY: Deaf and Hard-of-Hearing)
Jamye Pritchett Solorzano
Economic Development Specialist/Admin Officer
San Diego District Office
U.S. Small Business Administration