Benefits Program

All Goverment Program benefits and Application form, income limits, documents etc.
All Goverment Program benefits and Application form, income limits, documents etc.
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Military Reservist Economic Injury Disaster Loan Program

The purpose of the Military Reservist Economic Injury Disaster Loan program (MREIDL) is to provide emergency working capital to eligible small businesses to meet ordinary and necessary operating expenses that the business is unable to meet because an essential employee was to active duty in their role as a military reservist. 

These loans are intended only to provide the amount of working capital needed by a small business to pay its necessary obligations until operations return to normal after the essential employee is released from active military duty. The purpose of these loans is not to cover lost income or lost profits. MREIDL funds cannot be used to take the place of regular commercial debt, to refinance long-term debt or to expand the business.

Military Reservist Economic Injury Disaster Loan Program

The U.S. Small Business Administration (SBA) does administer the Economic Injury Disaster Loan (EIDL) program, which provides financial assistance to small businesses and nonprofit organizations that suffer substantial economic injury as a result of a declared disaster. This program is not exclusive to military reservists, but it's designed to help businesses that have suffered economic harm due to a disaster.

To get the most accurate and up-to-date information, I recommend checking the official website of the U.S. Small Business Administration (SBA) or contacting their customer service directly. They regularly update their programs, and new initiatives may have been introduced since my last update. Keep in mind that program names and details can change, so it's crucial to refer to the latest information provided by authoritative sources.

Additional Information

Max Loan Length30 years
Interest RateCannot exceed 4%
Max Loan Amount$2.0 million
Payment FrequencyMonthly
Prepayment PenaltiesNo

Military Reservist Economic Injury Disaster Loan Program Requirements

Federal law requires SBA to determine whether credit in an amount needed to accomplish full recovery is available from non-government sources without creating an undue financial hardship to the applicant. The law calls this credit available elsewhere. Because the Military Reservist Economic Injury Disaster Loans are taxpayer subsidized, Congress intended that applicants with the financial capacity to fund their own recovery should do so and therefore are not eligible for MREIDL assistance.

Credit Requirements: SBA's assistance is in the form of loans, as such SBA must have a reasonable assurance that such loans can and will be repaid based on satisfactory credit and repayment ability.

Collateral Requirements: Collateral is required for all MREIDLs over $50,000, to the extent it is available. Real estate is the preferred form of collateral. SBA will not decline a loan for lack of collateral, but SBA will require the borrower to pledge collateral if it is available.

Certified Development Company Loan Program Benefits

Military Reservist Economic Injury Disaster Loan Program Eligibility

  • Substantial economic injury means the business is unable to meet its obligations and pay its ordinary and necessary operating expenses.
  • EIDL provides the necessary working capital to help small businesses impacted by a disaster survive until normal operations resume.  
  • EIDL assistance is available only to small businesses when SBA determines they are unable to obtain credit elsewhere.

SBA can provide up to $2 million* to help meet financial obligations and operating expenses that could have been met had the disaster not occurred. The loan amount will be based on your actual economic injury and your company's financial needs, regardless of whether the business suffered any property damage.

A business may qualify for, both, an EIDL and a physical disaster loan.

The maximum combined loan amount is $2 million. A separate SBA Disaster Assistance program known as business physical disaster loans covers property damage.

Loan Terms

The interest rate on MREIDL loans is no more than 4% per year. The maximum maturity for such business disaster loans is 30 years. However, the actual maturity is based on your ability to repay the loan. The maximum loan amount is $2.0 million.

Military Reservist Economic Injury Disaster Loan Program Application Process

  • Check Eligibility: Ensure that your business or organization qualifies for the EIDL program. Eligibility criteria may include being located in a declared disaster area and experiencing a substantial economic injury.
  • Prepare Documentation: Gather necessary documentation, including financial statements, tax returns, and other relevant business information. The exact requirements may vary, so check the SBA website for the latest documentation guidelines.
  • Visit the SBA Website: Go to the official SBA website at and navigate to the "Disaster Assistance" section. Look for information on the Economic Injury Disaster Loan program.
  • Complete the Application: Follow the instructions on the SBA website to complete the EIDL application. You may be required to create an account on the Disaster Loan Assistance portal.
  • Submit Supporting Documents: Upload the necessary supporting documents as part of your application. This may include financial statements, tax returns, and other information that demonstrates the economic injury your business has suffered.
  • Review and Approval: The SBA will review your application and supporting documents. If additional information is needed, they will contact you. Once the review is complete, a loan officer will determine whether your business qualifies for the loan.
  • Loan Terms and Acceptance: If your application is approved, you will receive information about the loan terms. Review the terms carefully and decide whether to accept the loan.
  • Disbursement of Funds: If you accept the loan, funds will be disbursed to your business to help cover economic injury related to the declared disaster.

Again, please check the latest information on the SBA website or contact the SBA directly for the most accurate and current details regarding the application process for any specific program related to military reservists or other targeted groups.

Contact Information

For more information about this program, please visit the Military Reservists Economic Injury Loans page.