If your business is still struggling from Covid-19 and you have used or are close to using up your PPP and EIDL funds, you can apply for and request an increase to your EIDL loan.
You can apply for up to six months of working capital. If you would like to request an increase to your EIDL amount, you need to send an email that states your need to firstname.lastname@example.org with the word “INCREASE” in the subject line.
You should include additional information to back up your data. The SBA recommends your most recent Federal Tax return for your business along with a signed IRS Form 4506 T 2. You should also include updated financials (Gross Revenues, Cost of Goods Sold, cost of operation, or other sources of compensation), submit form 3502.
Please note that while I am happy to share this information from the SBA, I don’t know anybody who has tried to apply for an increase, and I can’t speak to how long the process takes.