13 CFR 123.501 - Under what circumstances is your business eligible to be considered for a Military Reservist Economic Injury Disaster Loan?

Regulations last checked for updates: Nov 22, 2024

Title 13 - Business Credit and Assistance last revised: Nov 20, 2024

View all text of Subpart F [§ 123.500 - § 123.513]

§ 123.501 - Under what circumstances is your business eligible to be considered for a Military Reservist Economic Injury Disaster Loan?

Your business is eligible to apply for a Military Reservist EIDL if:

(a) It is a small business as defined in 13 CFR part 121 when the essential employee was called to active service,

(b) The owner of the business is a military reservist and an essential employee or the business employs a military reservist who is an essential employee,

(d) The business has suffered or is likely to suffer substantial economic injury as a result of the absence of the essential employee, and

(e) You and your affiliates and principal owners (20% or more ownership interest) have used all reasonably available funds, and you are unable to obtain credit elsewhere (see § 123.104).

[66 FR 38530, July 25, 2001, as amended at 67 FR 64519, Oct. 21, 2002; 88 FR 24109, Apr. 19, 2023]

authority: 15 U.S.C. 632,634,636,636,657n,and

source: 61 FR 3304, Jan. 31, 1996, unless otherwise noted.

cite as: 13 CFR 123.501