Content
Notice: the COVID-19 EIDL program is not accepting new applications, increase requests, or reconsiderations
- As of January 1, 2022, SBA stopped accepting applications for new COVID-19 EIDL loans or advances.
- As of May 6, 2022, SBA is no longer processing COVID-19 EIDL loan increase requests or requests for reconsideration of previously declined loan applications.
- As of May 16, 2022, the COVID-19 EIDL portal (covid19relief1.sba.gov, also known as the "RAPID portal") is closed.
SBA continues to offer other funding options for small businesses, including traditional SBA loans.
Multilingual COVID-19 EIDL information
Applications must be submitted in English. We provide documents in 17 different languages to help you understand eligibility requirements, fill out applications, and answer frequently asked questions.
Existing borrowers
Learn how to manage your loan, including how to monitor loan status, make payments, and request a COVID-19 EIDL increase.
Loan details
In response to COVID-19, small business owners, including agricultural businesses, and nonprofit organizations in all U.S. states, Washington D.C., and territories were able to apply for the COVID-19 Economic Injury Disaster Loan (EIDL). New applications are no longer being accepted.
| Product | Loan directly from SBA that must be repaid; low-interest, fixed-rate, long-term loan to help overcome the effects of the pandemic by providing working capital to meet operating expenses |
|---|---|
| Uses of Proceeds | Working capital to make regular payments for operating expenses, including payroll, rent/mortgage, utilities, and other ordinary business expenses, and to pay business debt incurred at any time (past, present, or future) |
| Maximum Loan Amount | $2 million. Note: SBA began approving loans greater than $500,000 on October 8, 2021. |
| Loan Term | 30 years |
| Interest Rate | Businesses: 3.75% fixed Private nonprofit organizations: 2.75% fixed |
| Payment Deferment | Payments are deferred for the first 2 years (during which interest will accrue), and payments of principal and interest are made over the remaining loan term. No penalty for prepayment. |
| Fees |
For loans $25,000 or less: No fees if applying directly through SBA For loans greater than $25,000: One-time $100 fee for filing a lien on borrower’s business assets plus costs to file lien on real estate when applicable For loans greater than $500,000 where real estate was pledged as collateral: One-time $100 fee for filing a lien on borrower’s business assets. Additionally, the borrower was responsible for recording the real estate lien and paying the associated fees. |
| Collateral | Required for loans greater than $25,000 |
| Personal Guaranty | Required for loans greater than $200,000 |
| Manage your EIDL | Make payments |
Program updates
As of September 8, 2021, new COVID-19 EIDL policy changes took effect as follows:
- Maximum loan cap increased from $500,000 to $2 million
- Use of funds was expanded to include payment and pre-payment of business non-federal debt incurred at any time (past or future) and payment of federal debt
- Extend the deferment period to 24 months from origination for all loans (existing loans with a less than 24-month deferment will be adjusted)
- Affiliation requirements simplified to an affiliate is a business that you control or in which you have 50% of more ownership
- Developed additional path to meet program size standards for businesses assigned a NAICS code beginning with 61, 71, 72, 213, 3121, 315, 448, 451, 481, 485, 487, 511, 512, 515, 532, or 812
- Exclusivity Period: From September 8, 2021, to October 8, 2021, the above policy changes were applicable to applications for <$500K while applications for >$500K received the policy changes on and after October 8, 2021
Loan eligibility
To obtain a loan via COVID-19 EIDL, small business owners must have met the eligibility requirements. Additionally, below were the credit score requirements:
- $500,000 or under: 570
- Greater than $500,000: 625
IRS Tax Authorization Form 4506-T for COVID-19 EIDL
Applicants were required to submit a signed and dated IRS Form 4506-T for COVID-19 EIDL authorizing the IRS to release business tax transcripts for SBA to verify their revenue.
Supplemental materials
Beware of fraud and ID theft
Contact us
Please call COVID-19 EIDL Customer Service at 833-853-5638 (TTY: 711), email COVIDEIDLServicing@sba.gov, or send a message through the MySBA Loan Portal. The COVID-19 EIDL Customer Service Center is open from 8:00 a.m. to 8:00 p.m., Monday through Friday.
When emailing SBA, remember to always include your loan or application number as well as reason for request in the email subject line. In the body of the email, include your loan or application number, reason for request, business name, applicant name and contact information.