Economic Injury Disaster Loan Emergency Advance
In response to the Coronavirus (COVID-19) pandemic, small business owners in all US states, Washington, DC and territories were eligible to apply for an Economic Injury Disaster Loan Advance of up to $10,000. This advance would provide economic relief to businesses that experienced a temporary loss of revenue.
General information about this opportunity
Last Known Status
Active
Program Number
59.072 Federal Agency/Office
Small Business Administration Type(s) of Assistance Offered
C - Direct Payments For Specified Use
Program Accomplishments
Not applicable. Authorization
Public Law 116-136Public Law 116-260
Who is eligible to apply/benefit from this assistance?
Applicant Eligibility
Small Businesses in all U.S. states, Washington D.C., and territories. Beneficiary Eligibility
Not applicable. Credentials/Documentation
Application and self-certification. What is the process for applying and being award this assistance?
Pre-Application Procedure
Preapplication coordination is not applicable. Application Procedure
This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Award Procedure
Advance provided with EIDL loan application for COVID-19 disaster. Deadlines
March 16, 2020 to December 31, 2021 Applications must be submitted by 12/31/2021.
Approval/Disapproval Decision Time
As quickly as possible. Appeals
Not applicable. Renewals
Not applicable. How are proposals selected?
Not applicable. How may assistance be used?
To provide economic relief to businesses that are currently experiencing a temporary loss of revenue. What are the requirements after being awarded this opportunity?
Reporting
Not applicable. Auditing
Not applicable. Records
Not applicable. Other Assistance Considerations
Formula and Matching Requirements
Statutory formula is not applicable to this assistance listing.Matching requirements are not applicable to this assistance listing.
MOE requirements are not applicable to this assistance listing.
Length and Time Phasing of Assistance
Deadline to apply is 12/31/2021. Method of awarding/releasing assistance: Lump. Who do I contact about this opportunity?
Regional or Local Office
None/Not specified. Headquarters Office
Alan Escobar409 3rd Street, SW
Washington, DC 20416 USA
Alan.Escobar@sba.gov
Phone: 202-205-6734
Fax: N/A
Website Address
http://www.sba.gov/Disaster
Financial Information
Account Identification
73-0500-0-1-453 Obligations
(Direct Payments for Specified Use) FY 22$1,925,993,361.00; FY 23 est $14,492.00; FY 24 est $0.00; FY 21$5,750,899,000.00; FY 20$19,957,315,447.00; FY 19 - Range and Average of Financial Assistance
$1,000 per employee to $10,000. Regulations, Guidelines and Literature
Not applicable. Examples of Funded Projects
Not applicable.
