SBA Economic Injury Disaster Loan (EIDL) & Emergency Advance Program
Activated: COVID-19
Application Filing Deadline: December 31, 2020
In response to the Coronavirus (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 and Emergency 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 has resumed processing EIDL applications that were submitted before the portal stopped accepting new applications on April 15 and will be processing these applications on a first-come, first-served basis.
SBA is accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications on a limited basis only to provide relief to U.S. agricultural businesses. The maximum loan amounts have been capped at $150,000.
New Eligibility
- 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.
Loan Terms & Forgiveness
The EIDL Emergency Advance loan does not have to be repaid.
Note: Applicants can have an existing SBA disaster loan and still qualify for an EIDL for COVID-19, however, the loans cannot be consolidated. You may also apply for and receive a PPP loan, however, EIDL proceeds cannot be used for the same purpose as a PPP loan or the amount of PPP forgiveness will be reduced.
Deadline & How to Apply
At this time, only agricultural business applications are being accepted due to limitations in funding availability and the unprecedented submission of applications already received.
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.
All other EIDL loan applications that were submitted before the portal stopped accepting new applications on April 15 will be processed on a first-in, first-out basis.
Eligible agricultural businesses may apply for the Loan Advance here.
To apply for a disaster loan unrelated to COVID-19, click here.
Have Questions?
For application status inquiries and/or questions about the EIDL program:
If you have additional questions or require further assistance, please call our Disaster Customer Service Center at 1-800-659-2955 or, for the deaf and hard-of-hearing 1-800-877-8339 (Monday through Friday from 8:00 am to 8:00 pm, Saturday and Sunday from 8:00 am to 8:00 pm Eastern Time) or email us at: disastercustomerservice@sba.
For more information about the U.S. SBA EIDL program, click here.
