New EIDL Loan Rules Posted by the SBA


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The SBA has released its most comprehensive list of rules and FAQs on the COVID EIDL loan program to date. Below is a video run-through of important changes and updates in the document. In addition, we'll be posting more information below. Here is the link to the full PDF.

YouTube's thumbnail image for the video.

New EIDL Loan Rules Overview

Here's a quick overview of the COVID EIDL program. This explains the EIDL program, the loan terms, and provides information on interest accrual during the deferment period. In addition, they answer if EIDL loans can be forgiven.
EIDL loan terms introduction

Can You Still Apply for an EIDL Loan?

This section contains information on the deadline to apply and more clarification on EIDL loan eligibility. This is especially important if you've been declined or are in EIDL loan reconsideration. You can still apply on the SBA website here.
EIDL loan eligibility and deadlines

How is the EIDL Loan Amount Calculated?

The section below can help you determine how much you should be eligible for. If you think you may be eligible for more money, you may want to calculate this loan amount on your own.
EIDL Loan calculation formulas

What If You've Been Declined for an EIDL Loan?

If your EIDL loan application was declined, here are the common reasons. They also include more information on "unverifiable information." This section is especially important if you're applying for reconsideration.
EIDL loan decline reasons and EIDL reconsideration

How Can I Get More EIDL Loan Information?

Take a look through the full PDF provided by the SBA if you have more questions. In addition, you can get more funding help on our app. Join hundreds of thousands of others and get curated funding opportunities and other critical information to help your business.

📌 The new funding tracker is now live on the Skip app. Make sure you have the latest version (2.2) in the App Store or Google Play and check it out.

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