AAHOA Advocacy Updates

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From the SBA: COVID-19 EIDL Update

| May 16, 2022

As of January 1, 2022, SBA stopped accepting applications for new COVID-19 EIDL loans or advances. As of May 6, 2022, the COVID-19 EIDL funds are exhausted. SBA is no longer accepting COVID-19 EIDL loan increase requests or requests for reconsideration. Approved borrowers that have not signed their loan closing documents must do so by May 16, 2022, or will face delayed disbursement or possible loss of funding. The COVID-19 EIDL portal (covid 19 relief 1.sba.gov), also known as the "RAPID portal") will close on May 16, 2022. Borrowers should download their loan documents from the portal prior to this date. 

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