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Update on Small Business Administration EIDL Loans

May 16, 2022

Update on SBA EIDL Loans

1. If you have an EIDL PENDING APPLICATION FOR AN INCREASE, the SBA has announced that they expect to run out of funds for the increases in the next few days. Therefore, it is paramount that you complete all necessary requirements no later than 11:59 pm on MONDAY MAY 16th. This includes any documentation or signatures required. Check the portal immediately to see if you have unfinished tasks to complete.

2. All EIDL loan recipients should make sure that they have downloaded copies of all their loan documents from their portal to their own computers by 11:59 pm on MONDAY MAY 16th. If you have not yet done this, make sure that you do by May 16. You are responsible for keeping all your initial loan documentation electronically (and in hard copy) for the duration of your loan.

3. Please note that as of 11:59 pm on May 16th the portal access will be permanently closed. If you fail to download your documents by this time you will need to contact the Disaster Customer Service Center at (833) 853-5638 to request your documents.

4. Please note that new applications for a loan increase are no longer being accepted.

5. We also encourage you to begin the process of setting up your payments and understanding the amount of interest that is accruing. See the SBA info page here:

Resources: Addison County Economic Development Corporation