Important reminder! The deadline to apply for the COVID Economic Injury Disaster Loan (EIDL) is December 31, 2021. See below for further details.
- EIDL loan and Targeted Advance applications will be accepted until December 31 and will continue to be processed after this date until funds are exhausted.
- Supplemental Targeted Advance applications will be accepted until December 31; however, the SBA may be unable to process some Supplemental Targeted Advance applications submitted near the December 31 deadline due to legal requirements. The SBA cannot continue to process Supplemental Targeted Advance applications after December 31.
- Borrowers can request increases up to their maximum eligible loan amount for up to two years after their loan origination date or until the funds are exhausted, whichever is soonest.
- The SBA will accept and review reconsideration and appeal requests for COVID EIDL applications received on or before December 31 if the reconsideration/appeal is received within the timeframes in the regulation. This means six months from the date of decline for reconsiderations and 30 days from the date of reconsideration decline for appeals – unless funding is no longer available.
Earlier this week, the SBA held a COVID EIDL Application Completion Office Hours webinar to help answer your questions. If you missed it, a recording of it is available here. SBA will hold another webinar on Wednesday, December 22, 2021, at 4:00 p.m. ET. To join, click here.