Section 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,(c) The essential employee has been called-up to active service for a period of more than 30 consecutive days,(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