SBA Economic Injury Disaster Loan Webinar

Please be aware if you are a local small business of the webinar this afternoon, where you can learn about the forthcoming SBA Economic Injury Disaster Loan.

When: Mar 19, 2020 02:00 PM Central Time
Topic: Preparing to Apply for the SBA Economic Injury Disaster Loan

Register in advance for this webinar:

After registering, you will receive a confirmation email containing information about joining the webinar.
Space is limited; this webinar will be repeated for anyone that is unable to attend.

Additional COVID-19 Resources and Notices for Small Businesses: http://asbdc.org/covid19
Updates on the status of the SBA Economic Injury Disaster Loan program in Alabama: http://asbdc.org/sba-disaster-loans-for-covid-19/

Many have been asking about the SBA’s Disaster Assistance Loan Program.

Here is what we know: The Federal Emergency Declaration last week activated the SBA’s Economic Injury Disaster Loan program (EIDL). We expect the program to cover the entire state, and not just counties where individual have been diagnosed with COVID-19.

Governor Kay Ivey and her team at the AL Department of Commerce, in coordination with SBA’s District Office (in Birmingham), submitted the information required to request an Economic Injury Disaster Loan (EIDL) assistance declaration on Tuesday evening.

Upon receipt of the request from the Governor, SBA will issue an Economic Injury Disaster Loan declaration. It can take 24-48 hours for SBA to process that application and activate the online application form for residents of Alabama. Until that happens, companies in Alabama cannot apply for the SBA Economic Injury Disaster Loan.

Please note: the EIDL is a loan – and is not a grant. You should discuss the EIDL and other recovery strategies with your SBDC Business Advisor to ensure that you are taking all necessary steps to secure the viability of your business through the economic and social disruption caused by this disease and actions taken to prevent its spread.

Learn more about the EIDL application process, and other steps that you can take to address the disruption caused by COVID-19. Free Webinar, Thursday, 3/19 at 2pm.

When approved, Alabama’s Small Businesses will be able to go to SBA.gov and make a request for an Economic Injury Disaster Loan (EIDL) online. https://www.sba.gov/funding-programs/disaster-assistance

Michael Brooks, CGBP | Associate State Director

Alabama SBDC Network
The University of Alabama
621 Greensboro Ave
Tuscaloosa, AL 35401
Phone 205-348-1582
michael.brooks@ua.edu | http://ASBDC.org