SBA Opens Up New Grants And Loans For Small Businesses And Independent Contractors: The EIDL Program

On June 15, 2020, the SBA announced that it was again opening up its Economic Injury Disaster Loan (EIDL) grant and loan program. This means that independent contractors, freelancers, and gig workers are eligible to receive a $1,000 grant that does not have to be repaid.

Small businesses and agricultural businesses also may apply for the grant, equal to $1,000 per employee of the business up to a maximum of $10,000.