Need More Cash? SBA Allows Struggling Businesses Another Shot at the EIDL Program

For many American small business owners, who applied for federal relief funding during the early days of the Covid-19 pandemic, it was a happy surprise to learn that their economic pictures didn’t dim as much as they thought, or that their pivot planning paid off. For many others, things got worse.

The U.S. Small Business Administration at the end of September quietly began allowing those who’ve already applied for economic injury disaster loans (EIDL) to apply for more funding. They can now get an increase of up to six months of working capital, as long as the total outlay doesn’t exceed the current cap of $150,000.

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