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Is your EIDL in the mail? Expectations vs. reality

May 7, 2020

So, you’ve applied (or will soon apply) for an SBA Economic Injury Disaster Loan (EIDL). What happens now? Be sure to retain a screenshot of the Application Confirmation number that appeared at the end of the application, or at least write it down in a safe place. Keep these things in mind:  1) Although there is a “grant“ element to the EIDL (the “advance”), you are applying for a government loan, which will be processed and underwritten just like any other loan and will need to be repaid. 2) Loan applicati … (read more)

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