This is a big week for many small business owners who are eager to apply for an increase in their EIDL loan. As previously reported, as of April 6th the maximum EIDL loan will increase from $150K to $500K.
Many are anxious to receive an increase and want to be first in line when applications open. If you are in this boat, unfortunately, it looks like you are going to have to wait for an invitation to apply.
It sounds like when the SBA is ready for you, you will get an invitation over email. We don't know anything about how quickly these invitations will go out, or how they will be prioritized.
So as of right now, it's hurry up and wait if you want to get an EIDL increase !!!