The Austin Economic Injury Bridge Loan Program provides loans up to $35,000 for daily needs like rent, payroll, and debt. Eligible local businesses must be able to demonstrate an economic loss associated with the COVID-19 global pandemic. The loan is intended to “bridge the gap” between the time a major catastrophe hits and when a business secures recovery resources. The Austin Economic Injury Bridge Loan Program terms require payment of loan dollars up to 12 months at 3.75%.
This loan is not designed to be the primary source of assistance to affected businesses. To be eligible, you must be headquartered in a City of Austin Council district and have already applied for the U.S. Small Business Administration (SBA) Economic Injury Disaster Loan.