MAJOR SBA announcement = EIDL increased!
Just within the last few days, the SBA has announced that all recipients of the 2020 EIDL are eligible to apply for a loan increase. Also, for the original loan you took out last year, the payment start date is moved further ahead to 2022 (24 months after funding).
Check your email for a message with this subject: Increased Loan Limits for COVID-19 EIDL Program
Reply or send an email following these SBA instructions (in italics):
Follow these instructions if you wish to request a loan increase:
Send email to CovidEIDLIncreaseRequests@sba.gov
Use 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
The body of your email would look like this:
ABC Company LLC
Guarantor: John Smith
Owner: John Smith
123 Loan Drive
Anytown CA 95472
Date of note: X-XX-20
Acct # on note: XXXXXXXXXXX
Add any other info per SBA emails, such as:
“Your application number is XXXXXXX”