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EIDL: What Are Economic Injury Disaster Loans?

An Economic Injury Disaster Loan, or EIDL, is a 30-year loan of up to $2 million from the Small Business Administration for small businesses that are in disaster areas and can’t pay their ordinary and necessary operating expenses. The interest rate can’t exceed 4%. How EIDL loans work EIDL loans provide the working capital a…

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