SBA releases its streamlined application
for the Economic Injury Disaster Loan (EIDL)

 
 
 
Earlier today, the Small Business Administration (SBA) released its streamlined application for the Economic Injury Disaster Loan (EIDL). With this new online portal, participants can now quickly identify whether they are eligible for disaster loan support. If you are unsure whether your organization is eligible, it is recommended that you apply. IF YOU APPLIED ON THE OLD SITE, YOU MUST APPLY AGAIN ON THE NEW SITE.  
 
Increased funding for the disaster loan program was included in the Coronavirus Emergency Supplemental Appropriations Bill effective March 6, 2020. Read More 
 
Note: EIDL loans and the $349 Billion in Paycheck Protection Program (PPP) loans established under the CARES ACT are different programs! PPP loan guidelines have not yet been released.    
      
 
Key points:
  • Small Business Administration (SBA) released its streamlined application for the Economic Injury Disaster Loan (EIDL)
  • If you applied for an EIDL on the old site, YOU MUST COMPLETE THE FORM ON THE NEW SITE.
  • The Paycheck Protection Program is separate program and has not yet been released.