This week, FEMA and the SBA re-opened the application process for the Economic Injury & Disaster Relief Loan (EIDL) program.
EIDL has two components:
The EIDL loan and advance process is rather easy with no formal underwriting required. Click here to apply.
Congress appropriated $60 billion as part of the CARES act to this program. Applications are being accepted on a first-come-first-serve basis. However, given the amount of money available and the size of the loans, this seems like it may last for a while. If you’re interested, apply now – do not wait. It will likely take a few weeks before you hear back from them as the system will be overloaded with applications.
Please let us know if there is anything we can do to help you with this process.
We’ll stay in the weeds to manage your payroll, Human Resources, and compliance needs.