In this article, you’ll find details concerning the COVID-19 Economic Injury Disaster Loan (EIDL) program. Also, you’ll discover other alternative financing options that can help you overcome the hardships caused by the pandemic. So, let’s start.
COVID-19 Economic Injury Disaster Loan
The pandemic is impacting the countries worldwide. The government is taking measures to help taxpayers to fight the crisis. The EIDL program is one of them. Be aware it’s not meant only for business owners.
The number of people interested in the program proved to be higher than expected. That’s why the system got overloaded with applications, and the SBA didn’t continue accepting more applications after about 2 weeks. Then, people could again start sending their applications.
In certain cases, applicants would be required to provide a personal guarantee. However, there’re other requirements as well. The good news is that this isn’t the only business funding option to go for. So, if you need another source of financing, read below.
EIDL Isn’t the Only Option to Choose
COVID-19 is hurting people and businesses worldwide. The tragic deaths, coupled with job losses, have disturbed the global economy to an unprecedented extent. In this type of situation, it’s critical to take the right steps to survive.
Business owners are going through thick and thin to take care of valuable employees and keep their businesses alive. Some have chances to get out of the situation. However, many businesses have to close their doors. Those in need of fast business funding can turn to a reputable alternative online lender like FirstAmericanMerchant.com.
FAM can help you fight the crisis by providing fast, easy-to-access and cheap business funding options so that you don’t need to limit yourself to only the COVID-19 Economic Injury Disaster Loan program. FirstAmercianMerchant.com is an award-winning alternative online lender that specializes in high risk funding and high risk merchant processing. The BBB has listed FAM as an A+ company.
As you see, the government offers its support to merchants hurt by the pandemic crisis. However, EIDL isn’t the only financing source to rely on. So, if this isn’t what you need or you’re not eligible for it, go for trustworthy alternative lending options in your field.