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Congresswoman Brenda Lawrence

Representing the 14th District of Michigan

Small Business

The health and economic security of America’s workers and families must be Congress’s top priority during the coronavirus crisis. Small businesses are being impacted in a major way.

Throughout the state of Michigan, there are over 870,000 small businesses that employ more than 1.8 million workers. Earlier this month, the House passed an $8.3 billion supplemental appropriations package, by passing the Families First Coronavirus Response Act with $1 billion available to the SBA for disaster relief loans to small businesses and nonprofits suffering substantial economic hardship from the global crisis.

 The Economic Injury Disaster Loan (EIDL) program provides small businesses with working capital of up to $2 million to mitigate the temporary loss of revenue.

The U.S. Small Business Administration (SBA) has designated COVID-19 as a qualifying event for the provision of Economic Injury Disaster Loans (EIDL) for businesses and private non-profits in declared zones.

The EIDL is a low-interest, fixed-rate loan that can provide up to $2 million in assistance for a small business. SBA’s Economic Injury Disaster Loan (EIDLs) funds come directly from the U.S. Treasury. Applicants do not go through a bank to apply, and instead, apply directly to SBA’s Disaster Assistance Program. This includes:

  • Businesses directly affected by the disaster
  • Businesses that offer services directly related to the businesses in the declaration
  • Other businesses indirectly related to the industry that are likely to be harmed by losses in their community (Example: Manufacturer of widgets may be eligible as well as the wholesaler and retailer of the product.

The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.

Applications for Economic Injury Disaster Loans are now open in Michigan.


MI-14 businesses can start the process by collecting the information needed to apply for loans. Examples can be found at:

For additional information, please visit the SBA’s Coronavirus website:, or call SBA’s national disaster relief line: (800) 659-2955.

Please also contact the Michigan SBA office in Detroit, Michigan ( to address your specific case and ensure you are selecting the right SBA disaster assistance loan.

The Michigan Small Business Development Center can also provide resources for small businesses impacted by COVID-19. Visit their website for additional information.

MI-14 businesses can also download the 2020 Small Business Resource Guide for Michigan to gather more information.