For agriculture businesses only: On May 5, 2020, the SBA began accepting EIDL and EIDL Advance Grant applications for a limited time. For information, click here.
Although the interim stimulus relief package signed into law on April 24 provided for an additional $60 billion for the popular EIDL program, the SBA has issued the following notice on their website:
Notice: Lapse in Appropriations
SBA is unable to accept new applications at this time for the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program (including EIDL Advances) based on available funding.
Applicants who have already submitted their application will continue to be processed on a first-come, first-served basis.
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance
If we learn that SBA is again accepting applications, we will update this page immediately.
Economic Injury Disaster Loan:
Another $60 billion ($50 billion in loans and $10 billion in grants) is also set aside for the Economic Injury Disaster Loan fund, which is administered directly by the Small Business Administration rather than banks. NEW: Farms and other agricultural programs are now eligible for those funds.
We are keeping our eyes open to see if there will be any new directives from the SBA as far as applying under the new package and will immediately let you know if we learn anything.
Notice: Lapse in Appropriations
SBA is unable to accept new applications at this time for the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program (including EIDL Advances) based on available funding.
Applicants who have already submitted their application will continue to be processed on a first-come, first-served basis.
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance
If we learn that SBA is again accepting applications, we will update this page immediately.
Economic Injury Disaster Loan:
Another $60 billion ($50 billion in loans and $10 billion in grants) is also set aside for the Economic Injury Disaster Loan fund, which is administered directly by the Small Business Administration rather than banks. NEW: Farms and other agricultural programs are now eligible for those funds.
We are keeping our eyes open to see if there will be any new directives from the SBA as far as applying under the new package and will immediately let you know if we learn anything.
For the 10,000 advance application click here.
