Update as of 6/16 –EIDL Loan accepting new applications for all eligible applicants experiencing economic impacts due to COVID-19
Update as of 6/16 –EIDL Loan accepting new applications for all eligible small businesses and non-profits.
The SBA will begin accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications to all eligible applicants experiencing economic impacts due to COVID-19. The application is available at: www.SBA.gov/Disaster.
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are able to apply for an Economic Injury Disaster Loan (EIDL) Advance of up to $10,000. This advance is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. This loan advance will not have to be repaid.
SBA resumed processing EIDL applications that were submitted before the portal stopped accepting new applications on April 15 and will be processing those applications on a first-come, first-served basis. On June 15, SBA began accepting new EIDL and EIDL Advance applications from qualified small businesses and U.S. agricultural businesses.
The new eligibility for agricultural businesses is made possible as a result of additional funding appropriated by Congress in response to the COVID-19 pandemic.
Applicants who have already submitted their applications will continue to 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.
For more information or to apply, please visit: www.sba.gov/Disaster.