Cornerstone Capital Advisors’ Economic Injury Disaster Loan (EIDL)

Includes the following:

  • Advance /Grant (Currently Discontinued) – $1,000 per employee up to a maximum of $10,000 per company, to be disbursed 7-10 days after application is submitted.
  • Loan – Currently maxed out at $150,000 may increase to $2 million.

Want an Economic Injury Disaster Loan?

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.

If you were declined, call us we can get your application reconsidered.

If your amount was to low, call us we can help increase the amount

Terms of Loan

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Purpose

To meet financial obligations and operating expenses that could have been met had the disaster not occurred.

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Terms

  • 3.75% for Businesses (fixed)
  • 2.75% for Nonprofits (fixed)
  • 30 Years
  • No Pre-Payment Penalty or Fees
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Use of Proceeds

Working Capital & Normal Operating Expenses

Ex: Continuation of health care benefits, rent, utilities, fixed debt payments.

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Collateral Requirements

Required for Loans Over $25,000

SBA uses a general security agreement (UCC) designating businesses assets as collateral, e.g. machinery and equipment, furniture and fixtures, etc.

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Forgivable

  • No - EIDL Loan
  • Yes - EIDL Advance

*Advanced funds have been fully allocated and are not currently available

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Maturity

  • 30 Years
  • Deferred 1 Year; Interest Still Accrues

Borrower may make payments if they choose to do so.

Are You Ready to Discuss the Economic Injury Disaster Loan for Your Business? Contact Us!

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Call Us

954-434-1296

Location

5599 South University Dr., Suite 205
Davie, FL 33328

Virginia