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 :)