The deadline to apply for a COVID EIDL is next Friday. Here's what you need to know...
EIDL: Important reminder! The deadline to apply for the COVID Economic Injury Disaster Loan (EIDL) is Friday, December 31. See below for further details.
- EIDL loan and Targeted Advance applications will be accepted until December 31. SBA will continue processing applications after the deadline, including reconsiderations. We are unable to accept new applications after the deadline.
- 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.
For help with EIDL, call 833-853-5638 (855-440-4960 for the deaf and hard-of-hearing) or email disastercustomerservice@sba.gov. For help with Targeted EIDL Advance, email TargetedAdvance@sba.gov. The COVID-19 EIDL Customer Service Center is open 8:00 am to 8:00 p.m. ET, seven days a week. Learn more at sba.gov/eidl.
Business Trends for 2022: The path forward through the COVID-19 pandemic has not been easy, but it has showcased the resolve, adaptability, and resourcefulness of entrepreneurs across the country. Small business owners can proudly count themselves among that company. The recovery is in full-swing and according to a study commissioned by NEXT Insurance, 84% of small business owners are somewhat, very, or extremely optimistic about the ongoing economic recovery — and for good reason.
With 2022 in sight, there is no better time than now to prepare for the trends that will likely define the next business year. Learn how to position your business for success.
2022 Annual Small Business Week Awards: The SBA is now accepting nominations for its 2022 National Small Business Week Awards, including the Small Business Person of the Year. Could you be our next winner? Submit your nomination today. All nominations must be submitted no later than January 11, 2022 at 3:00 p.m. ET.
Shop Small this Holiday Season: Small businesses power America's economy. Today, there are over 32.5 million small businesses in the United States, and they need our help more than ever. Support small businesses in your community and shop small throughout the holiday season. Follow the SBA on Twitter, @SBAgov for the latest updates and help spread the word to shop small with the hashtag, #25daysofsmallbiz.
Paycheck Protection Program borrowers: If your loan is $150,000 or less, you may be eligible to apply for direct forgiveness through SBA using our online portal. Follow the steps below.
- Find out if your lender is participating.
- Watch a video about how to use the portal.
- Apply for forgiveness.
For additional information, visit the SBA website.
