Av Business Can Apply for Economic Injury Loans

 - October 3, 2007, 9:19 AM

The Small Business Administration (SBA) announced expanded access to its Economic Injury Disaster Loans (EIDLs) as a result of the September 11 terrorist attacks. The program has only been accessible to date to those businesses located in declared disaster areas, including the vicinities in and around New York City and Washington. The regulation now authorizes EIDL assistance across the country to eligible small businesses that have suffered substantial economic injury as a direct result of the September 11 attacks or a federal action taken directly after the attacks. Small businesses, including general aviation companies, may apply for up to $1.5 million with an interest rate of 4 percent that can be paid off over a maximum