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People also ask
What is an EIDL loan?
Note that EIDL loans are actually just one type of SBA disaster loan. (There are also physical disaster loans, home and personal property disaster loans, and Military Reservists Economic Injury Disaster Loans.) They鈥檙e designed specifically to help businesses weather the economic effects of a disaster.
How do I apply for an SBA EIDL loan?
So if you want an EIDL loan, apply on the SBA website as soon as possible. EIDL loans are just one of the SBA鈥檚 affordable working capital programs. Learn more about other loan options in our guide to the types of SBA business loans.
Is the EIDL program the fastest source of funding?
However, as with other SBA loans, the EIDL program isn鈥檛 exactly the fastest source of funding. The addition of the Emergency Advance through the Coronavirus Aid, Relief, and Economic Security (CARES) Act and expedited processing of loans has made it possible to receive funds faster than ever.
How do I find out my EIDL loan status?
You can use this method if you submitted your application online or by mail. Call 1-800-659-2955 (the SBA Disaster Assistance customer service center) and ask for Tier 2. These reps can answer questions about the application process and your EIDL loan status.