SBA Announces Update to Applicant Guidelines

Washington, November 19, 2021 (GLOBE NEWSWIRE) – Today, the U.S. Small Business Administration (SBA) announced updated guidelines for COVID Economic Disaster Loan Program (EIDL) applicants to better serve small business owners in need while funding remains available. Since its inception, the COVID EIDL program, a federal disaster relief loan designed to better serve and support our small businesses still reeling from the pandemic, especially hard-hit sectors such as restaurants, gyms and hotels, has approved nearly $ 300 billion in relief aid. Specifically, the following updated guidelines are provided:

  • EIDL loan and targeted advance requests will be accepted until December 31 and will continue to be processed after that date until funds are exhausted.
  • Additional targeted advanced requests will be accepted until December 31; However, the SBA may not be able to process some additional targeted advance requests submitted near the December 31 deadline due to legal requirements. The SBA cannot continue to process additional targeted advance requests after December 31, and strongly encourages eligible small businesses to apply by December 10 to ensure adequate processing time.
  • Borrowers can request increases up to the maximum amount of their eligible loan for up to two years after the inception date of their loan., or while funds are exhausted, whichever occurs first.
  • SBA to accept and consider reconsideration and appeal requests for COVID EIDL applications received by December 31 whether the review / appeal is received within the time limits provided for in the regulation. This means six months from the denial date for reviews and 30 days from the denial date for reconsideration appeals – unless funding is no longer available.

“The Economic Disaster Lending (EIDL) and EIDL Advance programs still have billions of dollars available to help small businesses hit hard by the pandemic. Over 3.8 million businesses employing over 20 million people have found financial assistance through SBA’s economic disaster loans, ”said Patrick Kelley, associate administrator of the SBA access to capital office. “Key improvements have been made to the loan program that will help businesses across our country recover and get back on track. “

In September, Administrator Guzman announcement major improvements to the COVID Economic Disaster (EIDL) loan program. The main changes announced included:

  • Increased COVID EIDL cap. The SBA has raised the COVID EIDL cap from $ 500,000 to $ 2 million. Loan funds can be used for all normal operating expenses and working capital, including payroll, equipment purchase, and debt repayment.
  • Establishment of a Deferred Payment Period. The SBA will ensure that small business owners won’t have to start COVID EIDL repayment for two years after the loan is issued so they can weather the pandemic without having to worry about making ends meet.
  • Establishment of a 30-day exclusivity window. To ensure that Main Street businesses have more time to access these funds, the SBA has implemented a 30-day exclusivity window for the approval and disbursement of funds for loans of $ 500,000 or more. less. Approval and disbursement of loans over $ 500,000 began after the end of the 30 day period.
  • Expansion of eligible use of funds. EIDL COVID funds are now eligible to prepay commercial debt and make payments on federal commercial debt.
  • Simplification of membership conditions. To make the EIDL COVID application process easier for small businesses, the SBA established simplified membership requirements to model those of the Restaurant Revitalization Fund.

How to register

Qualifying small businesses, nonprofits, and farm businesses in all U.S. states and territories can apply. Visit to learn more about the eligibility and application conditions. The last day for receipt of applications is December 31, 2021. Applications received by December 10 for the additional advance will be processed in order of receipt and the SBA cannot guarantee that all applications will be processed before December 31. All applicants should submit their applications as soon as possible. as possible to enable processing. For more information on COVID EIDL and other recovery programs, please visit

Small business owners can call the SBA Customer Service Center at 1-833-853-5638 (855-440-4960 for the deaf and hard of hearing) or send an email [email protected] for additional help. The center is open Monday through Friday, 8 a.m. to 8 p.m. EST. Shortened hours will be observed during the Thanksgiving Holiday (closed on Thanksgiving Day; open Friday, November 26 through Sunday, November 28 from 9 a.m. to 5 p.m. EST). Multilingual representatives are available.

Small business owners can also contact SBA resource partners by visiting

Improvements to the application process and fraud control

In addition to policy improvements, the SBA has invested in optimized processes and increased capacity to improve the customer service experience for applicants. Led by Administrator Guzman to rapidly and dramatically improve COVID EIDL, the reorganized leadership team implemented new processes and performance management, such as prioritizing staff for COVID EIDL and increasing the average number of enforcement decisions made. The SBA has accelerated the daily processing of loan increases, from nearly 2,000 requests to over 37,000 requests per day. The productivity of loan officers also increased from 1.86 requests per day to 15 requests per day. As a result of these increased loan review rates, the increasing backlog of over 600,000 loans has been cleared and new applications are being processed immediately. At the same time, and to ensure that taxpayer dollars are used to support businesses most in need of COVID EIDL funding, the SBA has strengthened fraud controls and is working with the Inspector General. of the SBA to closely monitor the program.

All business owners who have received prior loans under the SBA’s Paycheck Protection Program (PPP), Restaurant Revitalization Fund (RRF) or Grant for Closed Site Operators ( SVOG) can still benefit from COVID EIDL. To learn more about the application process, visit


About economic disaster loans

In response to COVID-19, owners of small businesses, including farm businesses, and nonprofits in all U.S. states, Washington DC, and the territories can apply for the COVID-19 disaster loan economic (EIDL). The purpose of EIDL is to provide financial assistance to small businesses to meet financial obligations and operating expenses that might have been covered had the disaster not occurred.

About the United States Small Business Administration

The Small Business Administration of the United States is making the American dream of becoming a business owner a reality. As the only resource and go-to voice for small businesses backed by the strength of the federal government, the SBA gives entrepreneurs and small business owners the resources and support they need to start, grow or grow their businesses, or recover from a declared situation. disaster. It provides services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit

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