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Questions?
- 954-434-1296
- aeckstein@cscadvisors.net
Disaster Loans
Disaster can strike in many forms, be it a weather event like a hurricane or an unprecedented global pandemic. No one can ever be 100% ready for these types of events, but we can certainly try our best. With Cornerstone Capital Advisors expertise, you and your business can find safety and security in participating in the Disaster Loan programs set up by the Small Business Administration (SBA). Make sure you are taking full advantage of these programs by utilizing Cornerstone Capital Advisors’ expertise to navigate through the treacherous legal and financial waters toward the calm and comfort of safety on the other side of any qualifying disaster.
Click Here For a Copy of the US Disaster Business Loan Application
Economic Injury Disaster Loan (EIDL)
Let us use our 21 years of experience with the SBA to help you maximize your dollars and navigate the process from beginning to end.
Terms of Loan
Purpose
To meet financial obligations and operating expenses that could have been met had the disaster not occurred.
Terms
- 3.75% for Businesses (fixed)
- 2.75% for Nonprofits (fixed)
- 30 Years
- No Pre-Payment Penalty or Fees
Use of Proceeds
Working Capital & Normal Operating Expenses
Ex: Continuation of health care benefits, rent, utilities, fixed debt payments.
Collateral Requirements
Required for Loans Over $500,000 Specific to the Company Applying
SBA uses a general security agreement (UCC) designating businesses assets as collateral, e.g. machinery and equipment, furniture and fixtures, etc.
Forgivable
- No - EIDL Loan
- Yes - EIDL Advance
*Advanced funds have been fully allocated and are not currently available
Maturity
- 30 Years
- Deferred 2 Years from Initial Funding; Interest Still Accrues
Borrower may make payments if they choose to do so.
Location
5599 South University Dr., Suite 205
Davie, FL 33328
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