It was announced Wednesday, June 17th the reopening of the US Small Business Administration’s Economic Injury Disaster and EIDL Advance program portal. The EIDL program offers long-term, low-interest loans for a small business or nonprofit in need of economic support due to temporary loss of revenue as a result of COVID-19. The loans can be used to pay off debt or pay employees or other bills not covered by the Paycheck Protection Program loan. The EIDL Advance program provides a one thousand dollar grant per employee – up to $10,000. With the reopening of the portals, it will allow for more small businesses to receive financial relief and help keep businesses open.
17th District Congresswoman Cheri Bustos said, “As Illinois continues to respond, these loans will be a critical tool for small businesses to effectively reopen and keep their doors open into the future…” She added, “I encourage all eligible applicants to apply and take advantage of these programs.” For more information, or to apply for the EIDL Advance program, click here.
