COVID-19 Economic Injury Disaster Loan

1. As of January 1, 2022, SBA stopped accepting applications for new COVID-19 EIDL loans or advances.
2. As of May 6, 2022, SBA is no longer processing COVID-19 EIDL loan increase requests or requests for reconsideration of previously declined loan applications.
3. As of May 16, 2022, the COVID-19 EIDL portal (covid19relief1.sba.gov, also known as the "RAPID portal") is closed.

The COVID-19 Economic Injury Disaster Loan (EIDL) and EIDL Advance programs provide funding to help small businesses recover from the economic impacts of the COVID-19 pandemic. There are two types of COVID-19 EIDL funding:

1. COVID-19 EIDL loan funds may be used for working capital and other normal operating expenses.
   1. These loans are not forgivable and must be repaid
   2. Requirements vary depending on the size of the loan
   3. Loan increases are available until funds are exhausted
2. The EIDL Advance funds are awarded to existing COVID-19 EIDL applicants who meet certain criteria.
   1. Advances are like grants, but without typical U.S. government grant requirements
   2. EIDL Advances do not need to be repaid