EIDL Advance (NO LONGER AVAILABLE) 1 EIDL Advance does not have to be repaid. 2 Recipients did not have to be approved for an EIDL to receive the EIDL Advance. 3 The amount of the loan Advance was deducted from total loan eligibility. More items...What is the EIDL program and how does it work?
The EIDL program is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue due to COVID-19. To meet financial obligations and operating expenses that could have been met had the disaster not occurred Example: continuation of health care benefits, rent, utilities, fixed debt payments.How do I verify the status of my EIDL application?
Keep reading to learn more about these methods for verifying the status of your loan application. If you submitted your application online, you can check your loan status through the SBA website. This is the quickest and easiest way to verify the status of your EIDL.How do I write a reconsideration letter for an EIDL loan?
A good reconsideration request will clearly summarize the SBA’s reason for rejection, explain your reasoning for the reevaluation, and provide supporting documents to strengthen your proposal. Be sure to include your EIDL loan application number, the date you applied, your business name, and your contact information.