Please refer to the following websites:
COVID Disaster Loan vs Paycheck Protection Program

Call customer service at 1-800-659-2955 or send an email to

Please call us at (503) 227-1165 or send us a message.

Economic Injury Disaster Loan – $10,000 Advance

Dear Clients and Interested Parties:

The SBA just simplified the application process so that businesses can apply for a COVID-19 disaster relief loan in less than 10 minutes. This loan is different than the relief package just passed that included the Paycheck Protection Program.  

On March 27, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The CARES Act provides economic relief for businesses experiencing a temporary revenue loss due to COVID-19.

This is a step-by-step breakdown of how to apply for an Economic Injury Disaster Loan from the Small Business Administration.

How to Apply for an SBA Economic Injury Disaster Loan:

Step 1: Visit the SBA disaster loan website.

Here is the direct link to begin the loan application process:

Note: Before entering any personal information, be sure you are on the real Small Business Association site at

Step 2: Verify eligibility.

The SBA is relying on businesses to self-certify eligibility. This is a two-part verification process:

  • The first part certifies that your business falls within the parameters of the Economic Injury Disaster Loan (EIDL) Program. Choose the one description that fits your business.
  • In the second part, you must certify that your business is not engaged in certain disqualifying activities. Review and check each of the boxes before continuing. Then click the “Continue” button to be taken to the online application.

Step 3: Provide business information.

To complete this step of the online application, you will need several pieces of information pertaining to your business handy, including:

  • The legal and trade names of your business.
  • Your Federal EIN number or Social Security number.
  • Gross revenue and cost of goods sold for the 12 months leading up to January 31, 2020.
  • The date your business was founded.
  • The number of employees.

Step 4: Provide business owner(s) information.

At the top of this second page of the application is a question about whether your business is owned by another business entity. If the answer is yes, you will need to provide information about that entity and that entity must sign a loan guarantee.

Regardless of your answer to the first question, you will be asked for information about the owner(s) of the company. There is a separate page for each owner, and the following information per owner is required:

  • Percentage of business ownership.
  • Home address.
  • Phone number.
  • Social security number.
  • Date and place of birth.
  • Citizenship status.

Note: That first question at the top is easy to miss. If you’ve filled out all of the lines and can’t go forward, make sure you’ve answered yes or no to that qualifier at the top of the page.

Step 5: Additional information.

This page of the application is broken into sections.

  • The first section requires answers to questions about criminal history or previous issues regarding dealings with the federal government.
  • The second section applies to anyone who may have assisted with the filing of the application (paid or unpaid). Fill in the name and contact info of anyone who assisted with your loan application. The SBA also asks for permission to contact the loan preparer.

Before entering the final information, you will be asked if you would like to be considered for a $10,000 advance on your loan. This is the $10,000 grant that is mentioned in the CARES Act. Businesses who request this $10,000 advance on their loan (which is being called a grant) and are approved are expected to receive it within three days. This $10,000 advance does not need to be paid back — though the rest of your disaster assistance loan will need to be paid back. You may receive up to $10,000, not guaranteed the full amount.

  • The last section asks for your bank information where your loan funds and the $10,000 advance, if approved, should be deposited. Once again, be sure you are on the correct site before you enter any banking information. The correct site is:

Read the provisions, which state, in part, that additional information may be required, that no one was paid for preferential treatment and that the information provided was truthful. You can read the terms and conditions of the loan here.

Clicking “Next” will take you to a summary page. Before you do so, check once again to make sure you are on the correct, secure SBA site. There is an OMB control number in the top right corner of the form. Write that number down and save it.

If you have questions about the application, you can call customer service at 1-800-659-2955 or send an email to

It does appear that you may apply for both the economic injury disaster loan and the paycheck protection program loan described in an earlier email but you cannot use the proceeds of both programs to fund the same need.  Please review the following site that describes the difference between the two programs.

I hope you are well and safe and you find this information useful.