SBA EIDL Advance Grant Eligibility & Status

SBA EIDL Advance Grant Eligibility & Status


For small business owners who apply for an EIDL advance grant, you will be eligible for up to $10,000. This SBA emergency grant is one of the temporary programs designed to offer financial relief as part of the CARES Act.

As of June 15, 2020, the SBA is accepting new applications for the EIDL advance grant and loan applications.

Business owners do not have to be approved for a loan to be eligible for the EIDL grant. And, this loan advance will not have to be repaid – it’s 100% forgivable. However; it’s important to understand that if you are approved for an EIDL loan, the amount of the loan advance you received will be deducted from the total loan.

If you have suffered financial hardship due to the coronavirus – there are multiple coronavirus relief options offered by the SBA. These programs are designed to assist small businesses struggling from the economic disruptions due to the ongoing pandemic.

The CARES Act (Coronavirus Aid, Relief, and Economic Security) was passed in late March and is the largest economic bill in U.S. history. As one of several temporary programs, the SBA emergency grant provides much-needed help to get business owners back on their feet during these uncertain times. This EIDL grant includes an emergency advance of up to $10,000.

What is an EIDL Advance Grant?

In response to the coronavirus pandemic, small business owners in all U.S. states, Washington D.C., and territories are able to apply for an Economic Injury Disaster Loan (EIDL) Emergency Advance of up to $10,000.

This advance will provide economic relief to businesses that are currently struggling with a temporary loss of revenue. Funds will be made available upon approval of your application. The good news: This loan advance will not have to be repaid.

The EIDL advance grant provides an emergency advance to small businesses that have been harmed by COVID-19. To access the advance, you first apply for an EIDL and request the advance right on the application.

The advance may be used to keep employees on the payroll, to pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent, and mortgage payments.

The funds to support the SBA programs and loans will continue to go fast, so don’t delay. And, unlike the Payment Protection Program (PPP) where you need to work with an SBA-approved lender, the SBA manages the Economic Injury Disaster Loan (EIDL) program directly.

We also provide answers to some of the most common questions around the Economic Injury Disaster Loan.


How Do I Check EIDL Advance Status?

There are multiple ways to check the status of your EIDL Loan and Emergency Advance:


  1. Online: Depending on which application you filled out on the SBA website; the following are links to the two portals to check your loan and advance status. Be sure to have the Username (or email address) and Password you created to login:
  1. Phone: SBA Disaster Assistance Customer Service Center: 1-800-659-2955 (TTY/TDD: 1-800-877-8339) between the hours of 8:00 a.m. – 8:00 p.m. EST. An alternate phone # to try is: 877-641-8202 between the hours of: 7:00 7:00 p.m. EST. Both phone lines are open seven days a week.
  1. Email: You can email for your status anytime:


How do I Apply for the EIDL Grant?

You can apply for the EIDL grant online on the SBA website. It doesn’t cost anything to apply.

The application can take a few hours to complete. Be sure to check the box to request the EIDL grant before you submit the application. To apply online, submit your COVID-19 EIDL Loan and Advance Application now.

On the application, be sure to check the box to be considered for an advance before your loan is finalized. You will need to provide a bank routing number and account number to have the loan advance deposited, upon approval of your application.



Who is Eligible for the EIDL Advance Grant?

All businesses who apply for an EIDL loan are eligible to also apply for a fast $10,000 advance on their loan. The SBA will determine how much loan advance they will give you, and when they will send the loan advance. If you receive a loan advance, the SBA emergency grant won’t have to be repaid. The loan advance may be $10,000, but it may be less, depending on your business.

When completing your loan application, be sure to check the box to indicate you want to be considered for up to $10,000 in the form of a grant.


What is covered under the Economic Injury Disaster Loan (EIDL)?

You can use the advance and loan for payroll, fixed debts, accounts payable, and other expenses that you are unable to pay directly due to the COVID-19 impact.

For example:

  • Paid sick leave to employees unable to work due to the direct effect of the COVID–19
  • Maintaining payroll to retain employees during business disruptions or substantial slowdowns
  • Meeting increased costs to obtain materials unavailable from the applicant’s original source due to interrupted supply chains
  • Making rent or mortgage payments
  • Repaying obligations that cannot be met due to revenue losses


For full details on this advance and loan program, EIDL Emergency Advance


Do I have to pay back the Economic Injury Disaster Loan (EIDL)?

Yes. This loan itself is not forgivable. However; you can qualify for up to $10,000 available as an SBA emergency grant, upon approval. If you receive a loan advance, this grant won’t have to be repaid.


What are the loan terms, fees and interest for the Economic Injury Disaster Loan (EIDL)?

These are the terms, fees and interest for this loan:

  • Interest rate of up to 3.75% per year
  • Principal and interest payments can be deferred for up to one year
  • Term length is up to 30 years
  • Loan amount based on amount of economic injury, up to $2 million
  • No collateral if loan is $25,000 or less
  • No personal guaranty if loan is $200,000 or less


Remember, the loan itself is not forgivable. Your loan approval documents will specify how loan proceeds can be spent.


Who qualifies for the Economic Injury Disaster Loan (EIDL)?

This program is for any small business with less than 500 employees. This includes sole proprietorships, independent contractors and self-employed, along with private non-profit organization or 501(c) (19) veterans organizations affected by COVID-19.

Eligibility requirements include:

  • Any business with up to 500 employees and sole proprietors
  • The business was in operation on January 31, 2020
  • Creditworthiness
    • Past earnings, projected cash flow, and future prospects
    • Ability to repay and potential for long-term success
    • However, SBA may approve an applicant based solely on credit score of the applicant
  • No majority owner is more than 60 days delinquent on child support
  • No legal gambling businesses, lobbying companies or pornography

To apply for the COVID-19 Economic Injury Disaster Loan and Advance, submit your application online now: SBA EIDL Loan

For more information on the temporary programs due to the pandemic, go to Coronavirus Relief Programs

The SBA also has a hotline to help answer questions 1-800-659-2955, 7 days a week from 7:00 a.m. to 9:00 p.m.




As of publishing date, while the information provided in this article is intended to be accurate, it should not be considered legal advice. These programs are rapidly evolving and we cannot be held responsible for any errors or omissions. Please contact your local bank, SBA and U.S. Treasury websites for updated information. You should also consult with your tax, legal or financial advisor to make the right choice for your business. 



COVID-19 Relief for Small Business and Economic Injury Disaster Loan Emergency Advance (U.S. Small Business Administration)