SBA Will Contact You, No Action Needed
We're blogging updates to keep you in the loop.
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📖 Latest News
Friday June 4, 9:00am EST: The SBA has started inviting new people to apply for the $10K Targeted and $5K Supplemental EIDL grants. Here's how many EIDL grants have been distributed in your state so far. Plus, 4 alternatives to EIDL grants if you're tired of waiting — and last week's funding and grant recap.
Sunday May 9, 8:30pm EST: Today, we spoke with a high-level SBA representative for 90 minutes on EIDL fraud updates (and what you should know) and timing for more Targeted EIDL Grant invites (for people not in the initial invites). Here's the recap. Happy Mother's Day!
Monday May 3, 11:30pm EST: Today, the Restaurant Revitalization Fund opened up applications. We did an in-depth report on Targeted EIDL Grant approvals data - the data shows very little progress over the past 4 months. It's Small Business Owner week, here's how you can support other small businesses. If you are invited to the Supplemental $5,000 EIDL Grant, here are step-by-step instructions.
Sunday April 25, 9pm EST: The SBA announced details for the Supplemental $5,000 EIDL Grants on Friday. The Shuttered Venue Operators Grant (supposedly) will open on Monday, April 26th, after being delayed again. The SBA also released next steps on the EIDL Loan Increase. The SBA also released more details about the Restaurant Revitalization Fund as well.
Thursday April 15, 6pm EST: There's a lot of news this week! Targeted EIDL grants are being approved (and there are more denials). We have the latest numbers here. Plus, EIDL loan increases and additional $5,000 grants have a timeline from the SBA. We also recap the pending reopening of the SVOG and the PPP getting close to funding capacity. Read the full update here.
Also, today we posted an article about "Should you request an EIDL loan increase or not?" since we had many inquiries about this question.
Thursday April 8, 8pm EST: A recap of this weeks news is that EIDL Loan Increases have gone live, SVOG grants have gone live, and around 14% of people report having been approved for their Targeted EIDL grants.
According to a few sources today, the SBA has said they have sent out all Targeted EIDL Grant invites. We're looking to verify this information.
Friday, March 26, 12:30pm EST: Big news from this week, here it is: The SBA has announced they are changing the EIDL loan limits from $150,000 to $500,000. This comes 3 days after Isabel Guzman was sworn in as the new leader of the agency.
In addition, our contact at the SBA informed us that the number of Targeted EIDL Grant approvals will "increase rapidly" over the coming the weeks, and they've started to pick up steam this week.
Finally, the Senate also passed the PPP extension bill today, and Biden is expected to sign it soon, giving businesses still waiting for PPP loans an additional 2 months.
Tuesday, March 9, 5PM EST: Targeted EIDL Grant approvals are finally happening. We started receiving reports over the weekend, and around 3% of people have said they've seen "Approval" status on their SBA Portal, based on our YouTube survey today.
👉🏼 Still waiting for a Targeted EIDL Grant email invite and think you qualify as being in a low-income area? Tap to email the SBA.
👉🏼 Submitted your Targeted EIDL Grant application but still waiting for "Approval" status. Tap to email the SBA.
Be sure to include your name and EIDL application number at the bottom of the emails.
Wednesday, February 24, 11AM EST: Good news this week so far: the SBA started emailing Targeted EIDL Grant applicants to update information on their portal, the White House announced changes to make it easier to get a PPP loan.
We highly recommend starting a free Skip trial to get access to grants and funding information first here or go to the Dashboard screen on the app and click "See New Grant Opportunities.
Finally, be sure to follow us on Instagram!
Thursday, February 11, 3:15PM EST: The House Small Business Committee approved $50 billion in new small business funding yesterday, including $15 billion in additional EIDL funding. We covered the big news here. You can also learn more about how to apply for the Targeted EIDl grant here.
If you want more help with grants and loans (beyond SBA programs), you can start a 15-day Skip Plus trial here.
Monday February 8, 1:01pm EST: A few important updates today. Over the weekend, we covered new EIDL Loan information (including increases and reconsiderations) and last week we covered that new Targeted EIDL Grant Application (if you are invited, otherwise, you'll still need to wait for SBA to contact you.
In the meantime, if you want more help with grants and loans (besides the SBA opportunities) start a free 15 day trial here.
Tuesday February 2, 11:55pm EST: The SBA has started to send emails to folks for Targeted EIDL Grants, we've just covered it here. In the meantime, if you want more help with grants and loans (besides the SBA opportunities) start a free 15 day trial here.
Monday February 1, 10:30pm EST: The SBA has published further (helpful!) guidance on timing and eligibility for the Targeted EIDL Grants. Here is our post about it. No action is needed but you can know what to expect.
Monday February 1, 12:20pm EST: We've published info on several new grant programs, from FedEx, DoorDash, NASE, and the Amber Grant. If you're a Skip Plus member you can get the full details on the App's Dashboard page. If you're not a Skip Plus member, you can try free for 15 days here and get access. There's no new news from the SBA, but you can always follow us on Instagram too.
Thursday January 28, 12:00pm EST: No updates from the SBA and we're still awaiting reports of people being contacted by the SBA. How's your Thursday going? Also, help us reach 50K YouTube subscribers today!
Tuesday January 26, 8:00pm EST: No updated news from the SBA today regarding EIDL grants contact and distribution.
Tuesday January 19th, 10:20pm EST: SBA EIDL has issued guidance on the EIDL grant program. They will contact you. No new applications are allowed at this time. And they will first contact those who previously received less than $10,000 and may be qualify under the "Targeted EIDL Advance". Then they will reach out to those who applied last year but did not receive an EIDL Advance due to lack of funding. This is expected to be in the next few weeks when they'll begin contacting people.
Tuesday January 19th, 10:36am EST: No SBA EIDL grant updates today, but the major PPP lenders are now live! We recommend applying through Bluevine with our partner link, which has the simplest and quickest form. If Bluevine doesn't work for you, you can also apply through our partner Funding Circle or our partner Credibly.
Monday January 18, 11:00am EST: Unfortunately, the SBA did not update their website last night with new instructions, as they had said they would. We'll continue to monitor all day and will send you a push notification if and when further instructions become available. For now, there are three things you can do:
- Get early access to PPP lenders by starting our free Skip trial
- Calculate how much you might be eligible for in total SBA funding
- Follow us on Instagram and Twitter where we'll also be sharing updates
Sunday January 17, 10:57pm EST: The SBA is still in the process of updating their website, here's part of the migration we caught moments ago posted on our Instagram.
January 17, 11:15am EST: We're still awaiting guidance from the SBA, expected sometime today. Our personalized EIDL & PPP concierge service is now open, spaces are limited. Start our free Skip Plus trial and you'll get help navigating the PPP & EIDL process, and get early access to PPP lenders. You can follow us on Instagram as well, where we'll be posting updates.
Finally, we've just released our EIDL grant and PPP calculator today. Quickly see what you might be eligible for here.
Friday January 15, 11:30am EST: We're still awaiting guidance from the SBA, expected on Sunday.
Wednesday Jan 13, 9:30pm EST: No updates from the SBA, and the latest information a new form will go live on Sunday, January 17.
Jan 13, 11:40am EST: No updates from the SBA, and the latest information a new form will go live on Sunday, January 17.
Tuesday Jan 12, 11:30am EST: No updates so far from the SBA on EIDL Grant Applications today.
We predict between 7-10 million people will be able to receive all or part of the EIDL Advances this time. If you know someone who could use between $1K-$10K, use your share link on the previous screen or send them to TrackEIDLGrant.com.
Monday Jan 11, 10:30pm EST: No more updates today from the SBA on EIDL Grant Applications.
Jan 11, 5:45pm EST: Still no news or updates from the SBA. The SBA has announced the PPP opening, which is open today for community financial institutions only, and for first time PPP applicants.
Here's a release of more SBA data on who received EIDL grants in the first round, state level data.
Jan 11, 4:00pm EST: Still no news or updates from the SBA but we've just posted our daily video update.
Jan 11, 11:28am EST: Still no news or updates from the SBA. We'll keep you posted!
Jan 11, 1:49am EST: We'll update more as necessary since there's no new news to report at the moment. Have a great start to your week!
Jan 11, 1:16am EST: There has been an update on the SBA site but not about EIDL grants. Around 1am EST they added a press release (below) about — frankly — nothing. It's basically is a message from Jovita Carranza saying "now SBA is working expeditiously to implement the newly enacted assistance" for debt relief for people who need to make loan payments to the SBA. Again, nothing much, we're surprised it warranted a 2 paragraph late night press release. And it's nothing related to EIDL grants.
Jan 11, 1:04am EST: Midnight Central Time update from the SBA? Not yet!
Jan 11, 12:42am EST: We're going to stay here and monitor, since it's still possible there might be a post-midnight site update. Have you posted our tracker on Facebook yet so your friends can be in the know when the grants go live? BTW, if you want to cover your bases, we're posting updates on our Instagram and Twitter too.
Jan 11, 12:30am EST: We were anticipating a "dump" from the SBA around midnight Eastern, since this is what happened on March 29th, 2020. However, there are no indications across their site that they've deployed any changes (including new rules or forms) yet. We'll continue to monitor, but these may come in the morning as a press release or later on Monday.
Jan 11, 12:23am EST: Back again? Still no updates. While we're waiting on the updates, help out a friend by sending them the tracker too.
12:05am EST: No updates from the SBA so far, but we'll keep you posted. All we expect is a rules update and clarification sometime today (Monday).
Sunday Jan 10, 11:35pm EST: We're expecting the SBA to release guidance either tonight or tomorrow. We'll update this page as soon as information becomes available.
🏛 SBA Press Releases
📌 SBA to Increase Lending Limit for COVID-19 Economic Injury Disaster Loans (March 24, 2021)
📌 SBA Launches Portal to Begin Accepting Shuttered Venue Operators Grant Applications on April 8 (March 19, 2021)
🏙 Targeted EIDL Qualification Details
Here is how it is currently calculated. This is for illustrational purposes only and we strongly recommend you consider applying even if you don't "qualify" based on our data. We have based the calculation on the rules we currently see, but the rules may change.
Even if you don't qualify you may still be able to get the full $10,000 EIDL grant. We're awaiting final SBA guidance.
Yes, Your Address Qualifies: This means that the census tract you're in either A) has a poverty % 20% or greater OR B) has an average household income that is 80% or less than the state median household income.
Your Address Doesn't Qualify: This means that your address doesn't meet the above criteria.
📌 This is for illustrational purposes only, and the SBA may further refine exact guidance on what qualifies as "low-income". This is meant to help give you an idea of what to expect.
You'll still need to qualify based on other criteria which includes: demonstrate 30% revenue loss over an 8 week period between this year and last year and have less than 300 employees.
