SBA updates guidance, deadlines for COVID EIDL program

The U.S. Small Business Administration announced Friday that the COVID Economic Injury Disaster Loan program, known as EIDL, will continue to accept applications until Dec. 31 — and that loans will be processed after this date until all funds are exhausted.

Since its inception, the COVID EIDL program — a federal disaster relief loan designed to better serve and support small business communities still reeling from the pandemic, especially hard-hit sectors such as restaurants, gyms and hotels — has approved nearly $300 billion in relief aid.

How to apply

Eligible small businesses, nonprofits and agricultural businesses in all U.S. states and territories can apply. Visit to learn more about eligibility and application requirements.

Small business owners may call SBA’s Customer Service Center at 833-853-5638 (855-440-4960 for the deaf and hard-of-hearing) or email for additional assistance. The center is open from 8 a.m. to 8 p.m. Monday through Friday. The agency will be closed on Thanksgiving.

Patrick Kelley, associate administrator for the SBA’s Office of Capital Access, said more than 3.8 million businesses employing more than 20 million people have found financial relief through SBA’s Economic Injury Disaster Loans.

“Key enhancements have been made to the loan program that will help our nation’s businesses recover and get back on track,” he said.

The SBA released the following specific guidelines Friday:

  • EIDL and Targeted Advance applications will be accepted until Dec. 31 and will continue to be processed after this date until funds are exhausted.
  • Supplemental Targeted Advance applications will be accepted until Dec. 31. However, the SBA may be unable to process some Supplemental Targeted Advance applications submitted near the Dec. 31 deadline due to legal requirements. The SBA cannot continue to process Supplemental Targeted Advance applications after Dec. 31 and strongly encourages eligible small businesses to apply by Dec. 10 to ensure adequate processing time.
  • 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 Dec. 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.