Economic Injury Disaster Loan (EIDL) Program

Economic Injury Disaster Loan (EIDL) Program

Website: https://www.sba.gov/page/disaster-loan-applications#section-header-0

 409 3rd St, SW., Washington, DC, 20416

Targeted EIDL Advance and Supplemental Targeted Advance

Updates:

• EIDL loan and Targeted Advance applications will be accepted until December 31 and will continue to be processed after this date until funds are exhausted.
• Supplemental Targeted Advance applications will be accepted until December 31; however, the SBA may be unable to process some Supplemental Targeted Advance applications submitted near the December 31 deadline due to legal requirements. The SBA cannot continue to process Supplemental Targeted Advance applications after December 31.
• Borrowers can request increases up to their maximum eligible loan amount for up to two years after their loan origination date, or until the funds are exhausted, whichever is soonest.
• The SBA will accept and review reconsideration and appeal requests for COVID EIDL applications received on or before December 31 if the reconsideration/appeal is received within the timeframes in the regulation. This means six months from the date of decline for reconsiderations and 30 days from the date of reconsideration decline for appeals – unless funding is no longer available.

For the hardest-hit businesses and private nonprofits, funds do not need to be repaid.

The deadline to apply and be considered for Targeted Advance is 12/10/2021!!

11/10/21 2 PM ET FREE Webinar hosted by the SBA and Public Private Strategies Institute to:
-Learn more about COVID EIDL and how you can take advantage before December 31, 2021
-Discover tools and resources you can use to start and grow your business
-Have your questions answered by SBA Leadership & small business experts
-Learn how you can become a vaccine leader in your community
-Get an update regarding programs and recent policy announcements made by the Biden-Harris Administration

NEW!! Watch the recording of the EIDL Information Session with Keith Bowers, SBDC FAMU!

Program overview

Applicants for the COVID-19 Economic Injury Disaster Loan (EIDL) may be eligible to receive up to $15,000 in funding from SBA that does not need to be repaid. These "advances" are similar to a grant, but without the typical requirements that come with a U.S. government grant.

To receive an advance, you must first apply for a COVID-19 EIDL. You do not need to accept the loan or be approved for the loan to receive an advance. Once you apply for the loan, SBA will invite you via email to apply for one of the advance programs if your business is located in a low-income area.

Before you apply, please check the map to ensure you are in a low-income area and review the eligibility criteria.

Please do not submit duplicate COVID-19 EIDL applications. If you have already applied or cannot find your invitation email, see instructions on how to have your application updated or reevaluated.

COVID-19 EIDL Application

More Information:

Contact us