Understanding the SBA Economic Injury Disaster Loan (EIDL) and the Economic Injury Disaster Grant (EIDG)

FAQ#: 300 published 8-5-2020

Understanding EIDL and EIDG is important.

I think by now you have had time to watch the 2 hour video I linked. I hope you learned more about the processing of federal disaster assistance from the SBA.

If you haven't invested the time, please do so now.
https://www.youtube.com/watch?v=qdxq-fZWh3c

EIDL Tips:

  • Your EIDG will be deposited when the SBA screens your application and processes the deposit. "How long" will it take is unknown so don't ask.

  • Just because your spouse, partner, kids, relatives have good credit doesn't mean you can legitimately apply for a Grand Advance for your wife, partner, kids and relatives.

If you need a loan to build a new building, purchase a vehicle, equipment or expand why not call a lender and talk about a conventional loan that is not classified as disaster assistance and you can spend it as you wish.



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