Update as of 5/4 –EIDL Loan accepting new applications for Agricultural Businesses ONLY

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Update as of 5/4 –EIDL Loan accepting new applications for Agricultural Businesses ONLY

The SBA will begin accepting new Economic Injury Disaster Loan (EIDL) and EIDL
Advance applications on a limited basis only, in order to provide unprecedented relief
to U.S. agricultural businesses. The application is available at: www.SBA.gov/Disaster.

  • The new eligibility is made possible as a result of the latest round of fundsappropriated by Congress in response to the COVID-19 pandemic.
  • Agricultural businesses includes those businesses engaged in the production of food and fiber, ranching, and raising of livestock, aquaculture, and all other farming and agricultural related industries (as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)).
  • SBA is encouraging all eligible agricultural businesses with 500 or fewer employees wishing to apply to begin preparing their business financial information needed for their application.

At this time, only agricultural business applications will be accepted due to
limitations in funding availability and the unprecedented submission of applications
already received.

In addition, SBA has resumed processing EIDL applications that were submitted
before the portal stopped accepting new applications on April 15 and will be
processed on a first-come, first-served basis.

For agricultural businesses that submitted an EIDL application through the
streamlined application portal prior to the legislative change, SBA will process these
applications without the need for re-applying.

The SBA made this programing decision in order to provide the greatest emergency
funding relief to as many small businesses, private non-profits, and agricultural
businesses as possible.

For more information or to apply, please visit: www.sba.gov/Disaster.

Virginia SBDC