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Approval & Funding Time For Economic Injury Disaster (EIDL) Loans: What To Expect

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Shelbi Wescott

Shelbi Wescott

Writer at Merchant Maverick
Shelbi Wescott is a writer and educator from Portland, Oregon. When she isn't writing about ways to help small businesses, she is a published author churning out pages for her science-fiction and mystery books. In 2015, her book After Life won an Honorable Mention for Best YA Mystery from the Library Journal. (It has ghosts. And mystery.) Shelbi has both a BA in English Literature and a Masters in Teaching from Lewis and Clark College.
Shelbi Wescott
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    Shane Johnson

    I received my email to go online and select loan amount, etc. About 5 days later, I received a request for a copy of my passport. Have any others who have been through this process had the same request? What was timing to then get loan documents, etc?


      I originally applied at the beginning or April for both the PPP & EIDL. My bank just got to my PPP application a little over a week ago & it is still processing. I think that is a bank issue though & not a government issue. As far as the EIDL loan, I received a grant of $1k about a month ago with no information about it or the loan, it was just deposited into my account. I received the email from the SBA to create an account last week on May 28th. I created the account and verified the info as requested. Today 6/2 I received an email to sign the loan docs. It was approved for the amount they initially offered. I signed all the docs and now waiting on the funds. I will update this as soon I receive the funds.


        Applied 04/6 got a grant of 2000 on 4/30 got my credit pulled 05/16 today 06/02 finally got my portal account access from SBA accepted loan amount offered one thing it is saying now is: NOTE TO APPLICANT SELECTING A LOAN AMOUNT DOES NOT MEAN THAT YOUR LOAN HAS BEEN APPROVED. FURTHER REVIEW OF THE APPLICATION WILL BE CONDUCTED. Then why did they pull my credit and offer me a loan amount? Let the nail-biting and the waiting game begin.



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            I applied for the EIDL on April 2nd. Received the invite to the portal on May 26th. And was approved and signed my documents on May 28th.

              Piper Montgomery

              Question: Did you need to submit additional documentation before getting approved? Did you get the grant as well?


                Did you get funded? Or still waiting for that? I just received an invite to the portal, but trying to understand what might be a reasonable expectation in terms of process to move to loan documents and then funding? Thanks!

                  Diane Cooper

                  Ive progressed to the green tab that says FUNDED yet I havent received the funds. How do I know who my funding, loaning institution is and when funds will be distributed? Has anyone had this experience too and actually continued to completion of the process?

                    Jessica Dinsmore

                    Hi Diane,

                    Others have reported receiving an email with a lender assignment after approval by the SBA. I imagined you’ll receive that email in the coming days if you haven’t already. Unfortunately, nothing seems to be going smoothly or according to plan, but the great news is that it sounds like you’ll be getting some relief soon.

                      Mela Leeis

                      Does anyone know about to advance or the type of documents they email ask for… I received my portal email and offer and everything is pending. When I submitted my amount I too got the error about my bank info and needed to correct my name. I think this is why I didn’t get the advance. Does anyone know if it is still possible to get the advance now that I have fixed my banking information? I applied in 3/30 and just got the email 5/30. My credit was pulled 5/13. I don’t want to get my hopes up, but I want to stay optimistic and prepared. I appreciate any help!

                        Jessica Dinsmore

                        Hi Mela,

                        Others have posted on here with similar issues, and it seems they were funded once the banking error was corrected. You could try contacting the SBA for an update on your application status, though that’s proven to be difficult and inconsistent for many.

                          Sarah G

                          Does anyone know how long it takes from the time you set up the portal account and accept an amount to the time you get an approval and sign documents. It has been 10 days since I accepted an amount and still no documents. I’m worried that maybe that is bad news, but then if I were getting denied why was I asked to accept an amount?


                            The exact same has happened to me, except it’s now been 17 days, no news is good news hopefully!


                              I received the email to set up my portal account on May 13th and had been approved by May 18th. I did not sign the closing documents until June 2nd, so I do not know how long it takes to get funded, yet, but I hope this helps a little.

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                                Hey everyone, I applied on April 03, using the short form. I received a $1000 advancement and my credit was ran approx. May 13th,.. I have not heard anything else. Did anyone else use the short form? If so, has SBA request any information?


                                  I’m a little confused on where my EIDL is. I actually applied for the EIDL prior to the PPP. My credit was pulled, but I heard nothing and right as I was about to be funded for the PPP, I decided to follow up and they sent me a link to a short form. Three days after completing that I received the $10K advance. My credit was pulled again after the short form by the way. Today I get a message saying to create a portal login, verify the loan amount and verify my identity. Done and done. I have no idea if this is based off of the second or first application. It makes somewhat of a difference as I provided so much information the first go around, provided zero documentation the second time around. I’ve been fortunate to have received the advance and the PPP, but receiving the actual EIDL would be fantastic for us and our community. At this point, am I approved and just waiting on loan documents? Also, is this just through the SBA or will they do this through a specific lender? Finally, is the loan amount I selected in addition to the grant (advance) or will that be deducted from the loan amount I selected?

                                    Jessica Dinsmore

                                    Hi Charles,

                                    Congratulations on your PPP approval and receiving your grant! Those are pretty big wins around here! If you haven’t done so yet, I’d suggest trying to check the status of your EIDL application. Receiving the grant is not an indication of approval, and if approved, the grant would be an advance on the approved loan amount — not in addition to. Others have reported getting an approval (or denial) email from the SBA, then being prompted to select a loan amount and then being assigned to a lender. So I’d imagine that’s what you can expect in the near future. Fingers crossed that your good luck streak continues!

                                      BRENDA SANDEFUR

                                      I received my email from the SBA to request my loan amount and verify identity, etc today – May 29th. Now I play the waiting game! I’m a little unsure of how or why I should call and request “tier two”. I called the number listed here, and got a man at the SBA, who said “I don’t know why you would want to do that, but I’ll transfer you”, then he transferred me to a non-working number! Click! Can anyone that received this email on May 22 tell me if you have received any funds or at least documents to sign yet? And if you did, did you request tier two, and how? Seems to me if that is an escalation, and everybody is requesting escalation, then what good does it do?


                                        I applied 3/24. On 5/28 I received an email to sign into portal confirm identity; confirm bank route and to select amount to borrow. Now green bar says being processed. I’m not sure this means that the loan is approved. I have never seen anywhere that my credit has been pulled in the past like I’m seeing on others post here. Had anyone been through this and moved to next phase… or is the loan already approved before you get this?

                                          Herb Hess

                                          Here is my timeline from NJ. Applied on 3/30/2020. I have one employee (me). On April 22, 2020 the SBA performed a hard inquiry on my credit. On April 23rd the $1,000 advance/grant was deposited into my business account.
                                          Today, May 22nd, I received an email inviting me to take the next step. The email is directly from the SBA. The next step is to create an account on the portal. Once done a new screen appears with three steps: Confirm identity (easily accomplished), Confirm Banking information (which had been supplied before and needed to make a deposit into your business account. The final step is to sign loan documents. This step is not available as one other task was to be completed. Above the three steps is the loan offer amount. You need to click on the amount and adjust the amount to the level of funding your business will borrow. The amount shown initially was the highest amount. You can adjust down to $1,000 or any amount in between, by $1,000 increments. The terms are 30 years, 3.75%, repayment starts in 12 months.
                                          Once the amount is selected, you need to click on the adjacent button which submits your application in to the SBA.
                                          I did call immediately after submitting my application. Even with escalation to Tier 2 I could not be told how long it will take to approve the application or to request additional data from my business. I will update when I have more information.

                                            Rebecca Pendleton

                                            After you confirm the amount you wanted, then what is the next steps??


                                              Have you received anything yet? Any updates?


                                                I recieved my Eidl portal email one week ago..sent some more documents to my caseworker and was aprooved 3 days ago.. I signed my loan docs and have been waiting.. As of last night when i clicked on my portal,my loan doc section is unavailable to open.. Is this a good thing since i have already signed ?

                                                  Jessica Dinsmore

                                                  Hi Mike,

                                                  I think so! It’s hard to say if anything is a good thing, BUT yes, after your loan is approved, you just play the waiting game — I bet you see your money in the next day or two if you haven’t yet. Best of luck!

                                                    dennis whiting

                                                    I applied Mar 30th. Credit was checked april 17th. I got an email May 9th telling me sign into portal which shows my loan approved for 150 K. I signed the loan docs and am still waiting. Never got grant money and now am just checking my account regularly. SBA says since I signed its a done deal. After calling 10 times, finally got someone with knowledge and says it is complete . Just waiting on funding. I will update when I am updated.

                                                      Jeremiah Giles

                                                      Are you still waiting as well? I thought I was just waiting on the funds to be wired, but when I logged onto portal and clicked my already completed bank verification, it said it had failed to validate my bank account. After multiple calls with the bank and the SBA, the SBA said it was just a glitch in their system. Today my bank account says it is validated. I was told to call back on Friday (May 22), if I had not received the funds…


                                                        Mine says failed to validate as well and I never received the grant money. Who resolved your issue, the bank or SBA? My calls go no where with the SBA.

                                                        Hope you received your funds.

                                                          Piper Montgomery

                                                          I have read that if thr bank account you listed is a personal account and not a business account they will deny it. I had a personal acct and the info was correct and it wouldn’t validate. Updated to my business checking and it validated my acct.

                                                            Dennis whiting

                                                            Guys , I woke up this morning to full amount deposited in my account minus 100 dollars. It took 10 business days to get funded. Be patient

                                                              Edith Garza

                                                              Did you get the full $150,000 or $25,000 first and then the rest ?

                                                                Rodney Davis

                                                                Curious if you would share you revenues and cost of goods sold number you entered…received advance, told I passed credit check, and I am wringing my hands curious how much they are going to offer to laon me..


                                                                  I was offered about 3 months.

                                                                    Philip Williams

                                                                    Applied for EIDL on 30 Mar, no word. SBA checked credit on 17 Apr. Got an email telling me that I would receive another email about a portal to provide and review information. Got that email on the 2 May. Was sent an email stating loan offer 9 May(saturday). Received another email on Sunday to e-sign closing documents. Everything is complete, when I talked to the SBA, congratulated me for getting that far and to just check my account daily for deposit. 18 May, nothing. I never received and advance. Now on the other hand, my wife’s business got an advance on 26 Apr, she filed the same time I did. I she just received her loan info last night (sunday). One big thing is to make sure credit is unlocked. several friends have not and they haven’t received any info or advance.


                                                                      APPLIED 30 MAR SATURDAY MAY 16, I RECEIVED EMAIL TO SET UP USERNAME AND PASSWORD FOR PORTAL, i DID THAT AS WELL AS VERIFIED MY PERSONAL AND BANK ACCOUNT INFORMATION. On the portal there was an amount (quote) that I was eligible for. Now says still processing and the e sign portion of the portal is currently unavailable to me at this time.

                                                                        Rebecca Pendleton

                                                                        Any update Kat??

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                                                                          Applied for EIDL on 3/30. Received my advance direct deposit on 4/12 for $2k ($1k/employee). This morning, I received an email from SBA saying my loan is ready for the next step. Logged in and basically it asked me to confirmed that I wanted to accept the loan with the terms: 3.75% interest, 30 years repayment, and 12 month grace period. It now says my loan is being processed. Not sure how long this next phase will take.


                                                                            Applied for EIDL $10K advance in March when the program was first announced. The website stated that application processing time would be 2-3 hours and funds would be deposited within 3 days. Ha! What a joke! Almost two months later, still nothing. We received one (automated) email on April 19th saying that at some point we should receive another email with a portal login to be able to view our application status. Called the SBA today (May 16th) and spoke to a Tier 2 Supervisor (because initial CSR was absolutely worthless and barely spoke English). He looked up our application number and said it was “still in the review queue”. How does a 2-3 hour process with 3 day funds deposit turn into TWO MONTHS “under review”? And how can this possibly be considered an “emergency advance”? Two months gone by and most businesses are drowning. The whole point of the 10K advance I thought was to help businesses offset some small part of the devastation, and yet by the time this “emergency advance” finally arrives the pandemic will likely be over and the business shuttered.


                                                                              Applied for EIDL’s March 28th. Got the offered amount and accepted it May 8th. Signed the documents yesterday on May 14th. We haven’t got the advanced portion yet. Does anyone know how long the funding will take to be in your account? Will the disbursement of funds come separately ?

                                                                                richard pilat

                                                                                Applied 040420, sent in my app via mail, got my 10K advance 0416. Credit checked around April 20th…. I call but only get a temp ( thats why they answer quickly), its coming they say, you will get an email. I check junk also. I was told it would be 150K last week… Im getting nervous. Did anyone get their loan finalized? If so what was your application date, date of 10K deposit??


                                                                                  Richard, I applied on April 4th as well, I received a $ 1000 on April 30th. My question is, “Did you filed the short form or long-form?

                                                                                    Alisa Wilson

                                                                                    We applied on March 18th and then for the $10 advance about a week later. The application for the advance said the money would be in our account in 3-5 business days…still waiting. Regarding the application for the EIDL loan is a circle jerk. Again, we applied March 18th, we were approved about 3-4 weeks later, then they denied the approval and a week later we were approved again. Now it’s been easily 3 weeks since we were re-approved and nothing. When you call they just tell you that you will receive an email. When you email them they respond with a generic email. Nobody can tell you anything, in the meantime all of these small businesses are suffering. I mean it’s been almost 2 months, the lack of communication and direction for people is just sad and appalling!


                                                                                      Hi everyone.

                                                                                      So…if you receive an advance does that mean you are approved for a loan but they are still preparing it?

                                                                                      Does anyone know how long the wait is for docs after the advance is received? I’ve tried calling the SBA at the 800 number and they say “I’ll get an email eventually.”. They can’t look anything up. Also you try to check the application status on the web site and it takes me nowhere. Just a hello and no messages.

                                                                                      Any insight would be helpful.

                                                                                        Jessica Dinsmore

                                                                                        Hi Bob,

                                                                                        Receiving an advance is not an indication that you were approved for the loan. But it does mean that they accepted your application successfully, and you WILL eventually receive an email from the SBA so keep watching your email and spam folder. If you do call the 1-800 number, be sure to ask for Tier 2. We’ve got more suggestions in this post on Checking The Status of Your EIDL Application. Good luck!

                                                                                          Scott Rapp

                                                                                          I just received my EIDL loan portal sign in link..I signed in, I was approved for up to a certain amount, I indicated what amount I would like the loan to be and then signed out. How long before I get the actual loan documents to sign, then once the loan docs are signed, do you know how long before they disburse funds to my account.

                                                                                          Thank you so much for any information

                                                                                            Jessica Dinsmore

                                                                                            Hi Scott,

                                                                                            We’ve included all we know in the post, however from what we’ve been hearing, it takes longer to get the loan documents signed– than actually receiving the loan. Disbursement after approval has been moving fairly quickly.

                                                                                              Ciara M

                                                                                              Hey Scott,
                                                                                              How long after getting your portal link and accepting an amount did it take for you to get your funds, or are you still waiting? We received our advance a while ago, and just got our link today. We accepted an amount, just wondering where it goes from here.

                                                                                                Rachel Paul

                                                                                                We were offered an amount for a loan and within 3 days we received the documents to sign. We signed them yesterday 5/23 and online it says 5 days for funding once all is verified on portal which we did.But seeing how some people are waiting after weeks, not sure.

                                                                                                  Merrel Porche

                                                                                                  I am in the same position as of last week. Did you get the funding yet?

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                                                                                                    diane f cooper

                                                                                                    I received my EDIL advance amount but no instructions on what I should do next. Will I receive some type of documentation via email on the next steps in this procedure. The last time I talked with the help line they said a lending institution would be contacting me in three weeks or so.

                                                                                                      Jessica Dinsmore

                                                                                                      Hi Diane,

                                                                                                      So happy to hear you received your advance! That’s great news. If you’d like to try to check the status of your EIDL application, we’ve got a post that explains what steps you can take to do that. Best of luck to you!

                                                                                                        Penny Dulaff

                                                                                                        Woukd u happened to have a copy of the eagle application or know where I can download one at. I’m thinking since the website is down at the moment that I can fill it out by hand and mail it in and then when the website for the backup I could do it online as well so that way I’m covering my bases and hopefully getting in before it’s too late so please let me know at your earliest convenience thank you

                                                                                                          Jessica Dinsmore

                                                                                                          Hi Penny,

                                                                                                          Unfortunately, the SBA has announced that it is not accepting new applications for Economic Injury Disaster Loans and Emergency Advances for the time being. We will continue to monitor the situation and will let small businesses know if the program reopens.

                                                                                                            Christy Munks

                                                                                                            what if you applied for the EIDL and received a grant but have not yet heard back about a loan? Does this mean you wont hear back from them or is this just for completely new applications all together?

                                                                                                              Jessica Dinsmore

                                                                                                              Hi Christy,

                                                                                                              This is referring to new applications. That’s great news that you received an advance! You can try to check the status of your EIDL application, but you may just have to keep waiting.

                                                                                                                Dominick Perez

                                                                                                                I submitted my EIDL application on 3/20/2020, the day Passaic County NJ was declared a COVID-19 disaster area. Have not heard back since this is ridiculous, meanwhile Harvard with it’s billions gets $9 million to give to illegal immigrant students.


                                                                                                                  I applied from California March 4…. called about 2 weeks after and was told to wait….
                                                                                                                  Last Sunday night 4/26 Experian app notified me
                                                                                                                  SBA ran my credit …. just now 11p May 2
                                                                                                                  I received an email from SBA that my application is being processed in the order in which it was received and I will be notified of any updates
                                                                                                                  At this point id be happy with the $10,000.
                                                                                                                  Advance and pay it back …California governor wants everything closed as long as possible
                                                                                                                  If anyone has details on the process
                                                                                                                  Please share


                                                                                                                    I applied March 21st. 2 weeks later I got an acknowledgement. 3 weeks later, approved and filled out online closing documents. It’s been almost another 3 weeks and nothing. Called and after being disconnected 4 times was told it was processing. Meanwhile, my business has been closed for 8 weeks and will only be opening at 25% capacity for who knows how long. So frustrated! !

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