The SBA has announced the first steps for those who want to try and increase their EIDL loan up to $500K. The initial ask is pretty straightforward - and anyone who wants to try and apply should get in the line.
Here is Stage One:
- Send email to CovidEIDLIncreaseRequests@sba.gov
- Use the subject line "EIDL Increase Request for [insert your 10-digit application number]"
- Be sure to include in the body of your email identifying information for your current loan including application number, loan number, business name, business address, business owner name(s), and phone number.
- Important: Do not include any financial documents or tax records with your initial request. You will receive a follow-up email notification if we need additional documents.
Once this is complete - when can you expect to hear from the SBA on the next steps? Your guess is as good as mine :)