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SBA EIDL Funding Timeline: What To Expect During Application, Approval, & Processing

Find out how long it takes to go from application to funding as well as what the recent changes to the EIDL's deferment policy are.

    Chris Motola
  • UPDATED

Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
Chris Motola

Chris Motola

Expert Analyst & Reviewer at Merchant Maverick
An expert in personal and business loans and financial health, Chris Motola has been writing about small business finance and payments for over 5 years. He has been cited in various industry publications, including Forbes Advisor, GoBankingRates, and Medium. Chris is a graduate of the University of Central Florida.
Chris Motola
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382 Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Amy Torres

    We were approved August of 2020 and we’re still waiting. Long story short, transposed digits caused bank deposit to be returned, been through reconsideration, confirmed banking info and finally we resigned loan docs on May 16th 2022, our stage 3 weeks ago was “obligated”, rep “escalated” us, Capitol Access site shows our funds as “undispersed”. Today, still waiting..

      M B

      how many approval stages is it i called they said i was approved for the 1st stage what’s next

        This comment refers to an earlier version of this post and may be outdated.

        Jessica Dinsmore

        Hi M B,

        Congrats on your approval! We actually haven’t seen any reference to numbered approval “stages” (1st, 2nd, 3rd, etc), but according to the SBA, once approved, an email is sent to the applicant(s) to choose the loan amount and sign loan documents. After that, loan proceeds are transferred to your bank account within 5-10 business days. So if you’ve been approved, those should be the next steps you can likely expect. Best of luck to you!

          This comment refers to an earlier version of this post and may be outdated.

          Mike

          For the Tageted Advance, after all documents are turned in and approved, the normal processing time is 21 days as stated on the website. Is there currently any change to this?

            This comment refers to an earlier version of this post and may be outdated.

            Jessica Dinsmore

            Hi Mike,

            The SBA website will have the most up-to-date information, so our suggestion would be to rely (loosely) on their suggested timeline. You can also check out their Targeted EIDL Advance FAQs for clarification on other program specifics. Wishing you speedy funding!

              This comment refers to an earlier version of this post and may be outdated.

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