Built America Magazine
One of the most misunderstood SBA tools is the Economic Injury Disaster Loan (EIDL). “Economic injury can only be used to pay bills, keep the lights on, and cover payroll,” Stallings explains. “It cannot be used for physical rebuilding.” That distinction is critical, particularly in rural communities. “If a few businesses leave a small town, it can close the community down,” he says. A single grocery store. A handful of gas stations. When those businesses disappear, daily life changes dramatically. “These loans allow businesses to stay open,” Stallings says. “They keep employees working and maintain stability while recovery takes place.” “In moments like that, it can never feel fast enough, but we move with urgency to get there and begin the recovery process.”
Because for the individual standing in front of a damaged home or storefront, this is not policy. It is the most difficult moment of their life. “It’s the worst thing that’s ever happened to them,” Stallings says. “In moments like that, it can never feel fast enough, but we move with urgency to get there and begin the recovery process.”
Economic Injury and Community Stability
—Chris Stallings
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