Approval & Funding Time For Economic Injury Disaster (EIDL) Loans: What To Expect

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After the nationwide disaster was declared in March, funds became available to help little companies impacted by the pandemic. How Long Is The EIDL Application Process? The SBA has never ever prior to needed to open its disaster relief applications to the whole country at one time, and the pandemic’s results on small services have actually created a fantastic requirement up against an overwhelmed system. If you are just waiting for the SBA to pay out funds, there is little you can do to press the process forward. One business owner told us that she waited on the phone for 3 hours just to be told they have received her application, and that was all– at the moment, there is no timeline.

How Long Is The EIDL Application Process? The SBA has actually never prior to needed to open its catastrophe relief applications to the entire country at one time, and the pandemic’s effects on little businesses have actually developed an excellent requirement up against an overwhelmed system. If you are merely waiting for the SBA to disburse funds, there is little you can do to push the procedure forward.

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