§123.501. Under what circumstances is your business eligible to be considered for a Military Reservist Economic Injury Disaster Loan?
13 C.F.R. § 123.501
Your business is eligible to apply for a Military Reservist EIDL if:
It is a small business as defined in 13 CFR part 121 when the essential employee was called to active service,
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,
The essential employee has been called-up to active service for a period of more than 30 consecutive days,
The business has suffered or is likely to suffer substantial economic injury as a result of the absence of the essential employee, and
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).
Notes, amendments, and revision history
Amendments
[66 FR 38530, July 25, 2001, as amended at 67 FR 64519, Oct. 21, 2002; 88 FR 24109, Apr. 19, 2023]
Source
Source: 66 FR 38530, July 25, 2001, unless otherwise noted.
Authority
Authority: 15 U.S.C. 632, 634(b)(6), 636(b), 636(d), 657n, 9009, and U.S. Const. art. VI, cl. 10.
Source
Source: 61 FR 3304, Jan. 31, 1996, unless otherwise noted.
Amendments
[66 FR 38530, July 25, 2001, as amended at 67 FR 64519, Oct. 21, 2002; 88 FR 24109, Apr. 19, 2023]