SBA EIDL Loan Expansion and How To Apply
On April 6, 2021, the U.S. Small Business Administration (SBA) expanded its Economic Injury and Disaster Loan (EIDL) program, the organization announced in a press release. Small businesses who originally took out an EIDL loan for up to $150,000 for six months can extend that loan for up to 24 months and receive additional funds for a total of $500,000 in relief.
- SBA will send an email to all businesses who already have a loan
- In the middle of the email – you will see the following. Follow the instructions to get the process started.
Follow these instructions if you wish to request a loan increase:
Send email to CovidEIDLIncreaseRequests@sba.gov
Use subject line “EIDL Increase Request for [insert your 10-digit application number]”
Be sure to include in the body of your email identifying information for your current loan including application number, loan number, business name, business address, business owner name(s), and phone number.
Important: Do not include any financial documents or tax records with your initial request. You will receive a follow up email notification if we need additional documents.
- Once you are contacted for the additional support and would like assistance, please reach out to RTW at that time
- If you never received an SBA EIDL loan and are interested and need assistance, please contact RTW
Schedule A Time to Speak With Us: https://calendly.com/rtw-calendar Or Call (855) 205-8486