The SBA’s Targeted EIDL Advance program is progressing, although many business owners have still yet to hear about their applications. Below we have a guide to speeding up the Targeted EIDL process depending on your situation. Of course, there are no guarantees, but we’ve compiled some tips and tricks we are hearing from business owners all over the U.S. here.
If You Haven’t Gotten An Email Invite
If you haven’t received an invitation to apply for a Targeted EIDL Advance, you’re not alone. Our most recent survey showed that 21% of respondents haven’t been invited to apply for the program. It can be frustrating, but there are options.
You can contact the SBA via email at firstname.lastname@example.org, which has been successful for some business owners, or look into alternative funding options while you wait. We have a guide to what to do if you’re still waiting for an invite, available here.
If You’ve Applied But Haven’t Heard Back Yet
Our most recent data showed that 54% of applicants (based on self-reported survey data), haven’t heard back from the SBA after applying. Although it will likely take the SBA some time to process all the applications, we have heard from some users that they were able to speed up the process by taking action.
People are reporting that they were able to get approved by the SBA quickly (within 48 hours), after reaching out to the agency via email at email@example.com. We recommend using email to contact the SBA, although you can also call the agency if you would prefer.
Another option if you haven’t heard back about your application is to reach out to your Congressperson and ask them if they have a staff member that can help you liaise with the SBA. We got a report from one business owner that after weeks of trying to reach the agency, he was approved for his advance 48 hours after contacting his congressperson and asking them to coordinate with the SBA on his behalf.
If You’ve Gotten an Invite But Aren’t in a Low-Income Community
The Targeted EIDL grant program has narrow eligibility requirements, and the SBA has stated publicly that only business owners in census-defined low-income communities will be invited to apply (you cannot apply without an invitation).
However, some people have reported to us that despite the fact that they don’t live in a low-income community based on available data (you can check if you are with our tracker here), they received an invitation to apply anyway. Some of them chose to apply since they had an invitation, and several reported being approved. Others were denied, so there are no guarantees. Receiving an invitation to apply doesn’t mean you’ll be approved for funding, but it’s possible you will receive the grant.
If You’ve Been Denied
This weekend, the SBA announced that they will be accepting requests for reconsideration of applications from people who have been denied, since many people were denied by the agency in error due to incorrect information.
If you’ve been denied for the advance but believe you are eligible, it’s worth contacting the SBA for a reconsideration. We’ve created a pre-populated email you can use to reach out to the SBA, which you can find here.
More Funding Information
The Targeted EIDL grant isn't the only available funding opportunity for small businesses right now. Here are some other funding options for your business:
📌 The SBA is now accepting requests for increased EIDL loans of up to $500,000. We released a brand new tracker today for you to see how much you could receive and see progress around the U.S. Read more about it here.
📌 We have dozens of grants and loans available in our curated database for Grants Premium users. You can join nearly 100,000 others getting early access to grants and other funding opportunities here.