Economic Injury Disaster Loan (EIDL) and Reconsiderations Overview

EIDL is available for eligible small business operating prior to January 31, 2020. The loan serves as working capital for your business for up to 6 months.  Loans up to $150,000 with a fixed interest rate of 3.75% for small businesses and 2.75% for non-profits. The deadline for EIDL application is December 21, 2020. Apply online

Applicants may be declined for COVID-19 EIDL at any point during processing prior to a final decision and funding. If you are declined, you will receive an email or a letter providing the reason for the decline as well as instructions to request reconsideration. If you are requesting reconsideration, find more information by contacting the SBA Minnesota District Office Minneapolis.mn@sba.gov or by attending an upcoming information session.

The SBA Minnesota District Office will be presenting information regarding the EIDL Reconsideration process that will explain the programs and conclude with a Q&A opportunity for attendees. The next presentation is on Monday, December 21 at 1:00 p.m. Registration is free but necessary to access the presentation. Register