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Biz Buzz
CHAMBER BLOG

ECONOMIC INJURY DISASTER LOANS: Accessing Emergency $10,000 Grant

4/2/2020

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Apply for the Economic Injury Disaster Loan
apply
How can I access an EMERGENCY $10,000 GRANT?
  •  Eligible applicants for an EIDL can receive a $10,000 emergency grant within three days of application (through Dec. 31)
  •  There is no obligation to repay the grant. To receive the $10,000 emergency grant, it is not necessary to have an approved EIDL loan. However, if you are able to secure a PPP loan, the $10,000 grant will be subtracted from the forgiveness amount

NOTE: The Paycheck Protection Program (PPP) created by the CARES Act prohibits borrowers from taking out two loans for the same purpose. For more information on PPP loans, visit uschamber.com/sbloans 

About the Economic Injury Disaster Loans:
The Coronavirus Aid, Relief, and Economic Security (CARES) Act expands the Small Business Administration’s long-standing Economic Injury Disaster Loan Program (EIDL). The EIDL program was created to assist businesses, renters, and homeowners located in regions affected by declared disasters.


Source: U.S Chamber of Commerce's Guide to SBA's Economic Injury Disaster Loans 

Additional Economic Injury Disaster Loan Resources: 
  • Who is Eligible? 
  • Loan Perimeters
  • Small Business Owners Guide to the CARES Act 
  • Delaware County Chamber of Commerce COVID-19 Resource Page
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1001 Baltimore Pike  |  Suite 309  |  Springfield, PA 19064
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