Submitting a loan to the Small Business Administration (SBA) during the COVID-19 pandemic is no small feat. Once you get your request for an Emergency Injury Disaster Loan (EIDL) submitted, how do you know if the loan is approved and when you will receive these critical funds?
The following includes several effective sources to check your SBA loan status:
Online Through the SBA Website
If you submitted your application online, you can check the status of your loan through the SBA website. This is the quickest, easiest way to verify the status of your EIDL. (Please note: if you applied through the expedited COVID-19 portal, you will be unable to check your status. Simply log into the SBA Economic Injury Disaster Loan Portal using the email address or username and password with which you registered when completing your online application. Once you’ve logged in, you’ll be able to check the status of your loan.
As an alternative, you can also check your loan status through the Disaster Loan Assistance Portal. This also requires the username and password used when applying for your loan. Through these portals, you can view information related to your application, including the application number, the current status, and the date that the status was last updated.
You can also find out the status of your EIDL application by phone. You can use this method if you submitted your application online or by mail. Call 1-800-659-2955 (the SBA Disaster Assistance customer service center) about the application process, the status of your loan, or with any other questions you may have. If you applied through the COVID-19 portal, the SBA will contact you, but you may be able to get answers by calling the toll-free number. If you mailed in your application, calling this toll-free number is the best way to find out the status of your loan, as you won’t have a username and password to log onto the online portal. On the plus side, this method allows you to talk to an SBA representative who will answer your questions, even if they go beyond finding out the status of your loan. On the other hand, though, you may be stuck waiting on hold, as other business owners are also inquiring about the EIDL program and loan statuses.
You can also reach out to the SBA by email to learn more about the status of your loan or to inquire about the EIDL program. All emails should be directed to the disaster assistance customer service team at firstname.lastname@example.org. Use this method if you have additional questions about the program or submitted your application by mail. Otherwise, you’ll be better served using the online portal to check the status of your loan.
What You’ll Need to Check Your EIDL Status
What you’ll need to check your EIDL status varies based on how you contact the SBA. The easiest way is through the online portal. If you use this method, you’ll need the username that you selected when filling out your application. You can also use the email address that you used when signing up. Additionally, you’ll need to enter your password to access the portal. If you call in, you won’t have a username or password, so you’ll need to provide additional information.
If you applied online, have your application number ready. You may also need to verify additional information, such as the name of your business, federal tax ID, and/or your legal name. If you email the SBA, make sure to provide your legal name and your application number (if you applied online). You may also be required to submit additional information, such as your business name, federal tax ID, or other identifying information.
If you applied through the COVID-19 portal, the SBA will be in contact with you regarding next steps.
Engineered Tax Services is committed to keeping you informed on all matters pertaining to the effect of COVID-19 on your business. As a national specialty tax services business, we closely monitor federal and state legislation and guidance. Visit the ETS CARES Act Resource Center to stay updated.