The Small Business Administration (SBA) Economic Injury Disaster Loan (EIDL) Program offers emergency loans to provide relief to small businesses and nonprofit organizations suffering because of the COVID-19 pandemic.
On March 27, 2020, the CARES Act was signed into law, which provided additional assistance for small business owners and non-profits, including the opportunity to get up to a $10,000 Advance on an EIDL. This Advance may be available even if your EIDL application was declined or is still pending, and will be forgiven.
Please visit www.SBA.gov/Disaster as soon as possible to fill out a new, streamlined application if you wish to apply for the advance on your EIDL.
In order to qualify for the Advance, you need to submit this new application even if you previously submitted an EIDL application. Applying for the Advance will not impact the status or slow your existing application.