The SBA is now accepting new applications for Economic Injury Disaster Loans (EIDL) as well as EIDL Advance applications. The application portal was shut down in April after exhausting the authorized funds, and then reopened in May but only for farm and agricultural businesses with a limitation of up to $10,000 per applicant. Effective June 15, 2020, the SBA resumed taking disaster loan applications from all eligible small businesses and nonprofits.
Businesses can receive the EIDL Advance up to $10,000 without being approved for the EIDL. However, the amount of the Advance will be deducted from total loan eligibility. Businesses and nonprofits who previously applied but have not yet received a decision do not need to reapply and those applications will continue to be reviewed on a first come first served basis. Interested borrowers can access the application here.