The SBA claimed last week to have an Economic Injury Disaster Advance Loan available to small business among other Covid-19 (CARES) programs. It was supposed to fund in 3 days. Has anyone who applied actually seen the money?

Answered by:

Natalie Lawrence

Organizer, Plus
4 Questions answered
Answered on April 14th, 2020

The rules governing the EIDL have changed, as Congress is struggling to find the funds to actually shore up these loan packages. Several of my clients have applied; we've been told it may be upwards of six weeks before we learn if the loan application has been accepted, much less see any money. This continues to be a moving target for everyone, so I urge you to research what advocates in your field are saying (i.e. a trusted publication for wineries is 'Wine Advocate'), speak to your banker, and keep applying. 


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