Jun 16 EIDL Update: SBA Now Accepting New Applications
Effective June 15, 2020, the Small Business Administration (SBA) announced that it will begin accepting new Economic Injury Disaster Loan (EIDL) applications, as well as the EIDL Advance applications, for all eligible small businesses. Prior to this date, the SBA was only accepting applications from agricultural businesses.
Please note that recipients are not required to be approved for an EIDL in order to receive the EIDL Advance (up to $10,000), but the amount of the Advance will be deducted from total loan eligibility.
Sax will continue to update you as further details are made available. Reach out to your Sax advisor or email [email protected] with questions. For more and on-going information relative to your state and business, visit Sax’s COVID-19 Resource Center.