Economic Injury Disaster Loan (US)
Estimate SBA EIDL monthly payments, total interest, and full amortization schedule for your disaster relief loan. Free US-focused calculator with charts.
About This Calculator
The Economic Injury Disaster Loan (EIDL) is a low-interest loan program administered by the U.S. Small Business Administration (SBA). It provides working capital to small businesses, agricultural cooperatives, and private nonprofit organizations that have experienced substantial economic injury due to a declared disaster — including hurricanes, wildfires, floods, severe storms, earthquakes, and other natural or man-made disasters.
Our EIDL calculator uses the standard amortizing loan formula (PMT) to estimate your monthly payment, total interest payable, and total repayment amount over the full loan term. The calculation accounts for the unique 12-month deferment period during which no interest accrues, per current SBA policy for general EIDL loans. After the deferment, the loan amortizes over the remaining term with a year-by-year breakdown showing how each payment is split between principal and interest, plus bar and pie charts for visual analysis.
The maximum combined loan amount for EIDL and physical disaster loans is $2,000,000 (two million dollars). Interest rates are capped at 4% per annum, and repayment terms extend up to 30 years based on the borrower's ability to repay. Collateral is required for loans over $50,000, and the SBA will not require use of your primary residence as collateral for loans of $200,000 or less if other assets of equal value are available. There are no prepayment penalties or fees.
Eligible businesses must be located in a declared disaster area, have suffered substantial economic injury (meaning they cannot meet financial obligations or pay operating expenses), and must be unable to obtain credit elsewhere. EIDL funds can be used for working capital and normal operating expenses such as payroll, rent, utilities, healthcare benefits, and fixed debt payments. Funds cannot be used for expanding facilities, buying fixed assets, repairing physical damage, or refinancing debt.
Regional Note: The EIDL program is specific to the United States and its territories. It is administered by the SBA and available only to businesses and organizations located in declared disaster areas within the U.S. This calculator is designed for U.S. applicants and uses U.S. dollars (USD). For COVID-19-related EIDL assistance, visit the SBA's COVID-19 EIDL page.
Frequently Asked Questions
What is an Economic Injury Disaster Loan (EIDL)?
An Economic Injury Disaster Loan (EIDL) is a low-interest loan from the U.S. Small Business Administration (SBA) that provides working capital to small businesses, small agricultural cooperatives, and most private nonprofit organizations that have suffered substantial economic injury due to a declared disaster.
What is the interest rate on an SBA EIDL loan?
The SBA sets EIDL interest rates at no more than 4% per annum. For COVID-19 EIDL loans, the rate was 3.75% for businesses and 2.75% for nonprofits. General EIDL rates are capped at 4% and determined based on the ability to repay.
What is the maximum loan amount for an EIDL?
The maximum combined loan amount for an EIDL and physical disaster loan is $2,000,000. The actual amount is determined by the SBA based on the economic injury suffered and the business's financial needs.
Is there a deferment period for EIDL payments?
Yes, the first payment on an SBA EIDL is deferred for 12 months from the date of the first disbursement. For general EIDL loans, no interest accrues during this 12-month deferment period.
What is the maximum repayment term for an EIDL?
The maximum repayment term for an SBA EIDL is 30 years. The exact term is determined by the SBA based on the borrower's ability to repay the loan.
Can EIDL funds be forgiven?
During the COVID-19 pandemic, EIDL advances of up to $10,000 were forgivable. For current general EIDL loans, the loan amount must be repaid according to the terms. Only certain COVID-era EIDL advances were eligible for forgiveness.
Who is eligible for an SBA Economic Injury Disaster Loan?
Small businesses, small agricultural cooperatives, and most private nonprofit organizations located in a declared disaster area that have suffered substantial economic injury may be eligible. The business must be unable to obtain credit elsewhere and must have been directly impacted by the disaster.
Does this calculator provide official SBA loan figures?
This calculator provides estimates for informational and educational purposes only. Actual loan terms, interest rates, and payment schedules are determined by the SBA during the loan underwriting process. Always consult the SBA or a financial advisor for official figures.