The Military Reservist Economic Injury Disaster Loan Program (MREIDL)
The Military Reservist Economic Injury Disaster Loan Program (MREIDL)
SBA offers loans for the war veterans all around the country. These specific loan programs include different rules from other programs. There are also a few different types of SBA veteran loans to know about, the Military Reservist Economic Injury Disaster Loan Program (MREIDL) being one among them.
The Purpose
Serving the United States by participating in reservist military or through active duty is a matter of prestige to anyone. This, however, comes at the cost of time spent with their families, as they serve far away from their homes. Some may even forgo their health and even life in order to better secure the country and its residents.
The Small Business Administration sees all these hardships and realizes that one of the most difficult sacrifices might be an economic one. For instance, National Guards or military reservists may find themselves suddenly taking off to serve by leaving behind their businesses at home.
The military reservist Economic Injury Disaster Loan Program has been devised for such situations. It offers a maximum of $2 million to deal with the operating costs which become necessary the active business owners or employees leave to serve in the national services.
This is one of the best small business loans available if you are struggling to gather an economic foothold after returning home.
