To further meet the needs of U.S. small businesses and non-profits, the U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19 today.
“The SBA is strongly committed to working around the clock, providing dedicated emergency assistance to the small businesses and non-profits that are facing economic disruption due to the COVID-19 impact. With the reopening of the EIDL assistance and EIDL Advance application portal to all new applicants, additional small businesses and non-profits will be able to receive these long-term, low interest loans and emergency grants – reducing the economic impacts for their businesses, employees and communities they support,” said SBA Administrator Jovita Carranza. “Since EIDL assistance due to the pandemic first became available to small businesses located in every state and territory, SBA has worked to provide the greatest amount of emergency economic relief possible. To meet the unprecedented need, the SBA has made numerous improvements to the application and loan closing process, including deploying new technology and automated tools.” Learn more
Note that if you have already applied for the EIDL and, so far have only received the advance (grant) and have not received a loan decision, the application is still being processed. You will get a loan decision. Do not re-apply as this will only slow the process related to the original submission.
The DC Small Business Development Center (DCSBDC) is here to assist you. Contact your DCSBDC business counselor or if you do not have a counselor visit our website at dcsbdc.org and select the New Client link on the home page.
