Economic Injury Disaster Loan (EIDL) Program
The SBA’s COVID-19 Economic Injury Disaster Loan Program deadline is extended until December 31, 2021. Please note that the EIDL Advance grant is no longer available.
The Targeted EIDL Advance provides businesses located in low-income communities with additional funds to ensure small business continuity, adaptation, and resiliency.
Advance funds of up to $10,000 will be available to applicants located in low-income communities who previously received an EIDL Advance for less than $10,000, or those who applied but received no funds due to lack of available program funding.
Applicants do not need to take any action at this time. The Small Business Administration (SBA) will reach out to those who qualify.
In response to the COVID-19 pandemic, small business owners in all U.S. states, Washington D.C., and territories were able to apply for an Economic Injury Disaster Loan (EIDL) 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.
The SBA has resumed processing EIDL applications that were submitted before the portal stopped accepting new applications on April 15, 2020, and will be processing these applications on a first-come, first-served basis.
Small businesses with less than 500 employees (including sole proprietorships, independent contractors, and self-employed persons), private non-profit organizations, or 501(c)(19) veterans organizations affected by COVID-19 are eligible.
To apply, visit https://covid19relief.sba.gov/#/. The deadline to apply is December 31, 2021.