How to Apply for an EIDL
Learn how to apply for an SBA disaster loan (EIDL), understand what documents you need, and know what to expect during the application and approval process.
Applying for an EIDL is done directly through the SBA, not through banks or other lenders. The process is primarily online, though paper applications are available. This guide covers the standard process for SBA disaster loans.
Step 1: Verify Disaster Declaration
Before applying:
- Visit sba.gov/disaster to check for declared disasters
- Confirm your business location is in the declared disaster area
- Note the application deadline (typically 60 days to 2 years after declaration)
- Review eligibility requirements for the specific disaster
Step 2: Gather Documentation
Prepare these documents before starting your application:
- Tax returns: Business and personal (2-3 years)
- Financial statements: Current profit & loss and balance sheet
- Personal financial statement: SBA Form 413
- Business identification: EIN letter, business license, formation documents
- Personal identification: Driver's license or government ID for all owners
- Insurance information: Coverage details and any claims filed
Start Early
You can start the application and save progress. Begin gathering documents immediately after a disaster declaration — deadlines can pass quickly.
Step 3: Submit Online Application
The online application process:
- Create an account at the SBA disaster assistance portal
- Complete the application form with business and personal information
- Upload required documents
- Authorize the SBA to check your credit
- Submit the application and receive a confirmation number
Step 4: SBA Review
After submission, the SBA will:
- Review your application and documents
- Check credit for all owners
- May request additional documentation
- Verify disaster impact on your business
- Determine loan amount based on economic injury
Step 5: Loan Decision
You will receive a decision by mail and/or email:
- Approved: You will receive loan documents to sign
- Declined: You can request reconsideration with additional information
- Withdrawn: Application withdrawn, usually at applicant request
Step 6: Accept and Close
If approved:
- Review loan terms carefully
- Sign closing documents (often electronic)
- Provide bank information for fund deposit
- Funds typically arrive within 5-7 business days of closing
Timeline Expectations
Processing times vary significantly:
- Small disasters: 2-4 weeks typical
- Major disasters: Can take months due to application volume
- COVID-19 EIDL: At peak, took 6-12 months for many applicants
- Priority processing: May be available for certain applicants
Check your application status regularly through the SBA portal. Respond promptly to any requests for additional information to avoid delays.
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Related Articles
What is an EIDL (Economic Injury Disaster Loan)?
Learn what EIDL loans are, understand their history including the COVID-19 program, and know the current status of SBA disaster lending programs.
Read more →Who is Eligible for an EIDL?
Learn who qualifies for EIDL disaster loans, understand the eligibility requirements, and know what disqualifies a business from receiving SBA disaster assistance.
Read more →What Are the Terms of an EIDL?
Learn the standard EIDL loan terms including interest rates, repayment periods, loan limits, and payment requirements for SBA disaster loans.
Read more →What is an SBA Loan?
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Read more →Important Disclosure
Not Financial Advice: The information provided in this article is for general informational purposes only and does not constitute financial, legal, or professional advice. You should consult with qualified professionals before making any financial decisions.
No Guarantee of Financing: Liminal Lending Co. is a business loan marketplace that connects borrowers with third-party lenders. We are not a lender and do not make credit decisions. Submitting an application does not guarantee approval or funding. Loan terms, rates, and availability vary by lender and are subject to borrower qualifications and lender criteria.
Third-Party Lenders: All loan products are offered by independent third-party lenders. Liminal Lending Co. is an Independent Sales Organization (ISO) and receives compensation from lenders for successful referrals. Terms and conditions of any loan are between you and the lender.
Rate Information: Rates, terms, and fees mentioned in this article are estimates based on publicly available information and may not reflect current market conditions or specific lender offers. Actual rates depend on creditworthiness, business financials, and lender policies.
Information May Change: Financial markets, lending regulations, and economic conditions are subject to rapid change. While we strive to keep our content accurate and up-to-date, information in this article may become outdated. Always verify current rates, terms, program availability, and regulatory requirements with lenders and official sources before making financial decisions.