$484 Billion Approved But Where Is It? EIDL Updates As Of April 21st

Due to limited appropriations funding, the application portal for the EIDL–COVID-19 assistance program (EIDL loans and EIDL Advances) is temporarily closed. • Applicants who have already submitted their applications will continue to be processed on a firstcome, first-served basis.  • SBA is processing EIDL applications as quickly as possible. SBA will provide those whose applications are approved with loans that will cover the business’s short-term working capital needs. • This is in addition to the EIDL Advance that small businesses and non-profits are eligible to receive as a result of the CARES Act.