Apply or request an increase for federal relief COVID19 EIDL funds

Event type: 
When and where
Tuesday, December 7, 2021
11:00am CT

Small businesses impacted by low sales or increased business debts due to the COVID-19 pandemic have until December 31 to get their applications in for the COVID-19 Economic Injury Disaster Loan (EIDL) program through the U.S. Small Business Administration (SBA).

The COVID-19 EIDL has a low 3.75% fixed interest rate and 30-year repayment term that’s available for owners with a minimum 570 credit score. Join Small Business Majority, Chicago Minority Supplier Development Council, and Illinois District Office, US Small Business Administration to learn about how you can access these funds or request an increase if you have already received a COVID-19 EIDL.

Topics include:

  • How this value-based loan benefits small business owners use for payroll, working capital, payment of commercial or federal debt, and payment of other cost expenses.
  • Understanding the difference between requesting an increase on an existing COVID-19 EIDL loan versus re-applying
  • How the federal Employee Retention Credit (ERC) could help with cash flow

Event topic: 
Access to Capital