Advertiser Disclosure

🏦 Get funded today with one of our top lenders for 2021

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

    Shelbi Wescott
  • 359 comments
  • Updated on:
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
Shelbi Wescott

Shelbi Wescott

Managing Editor at Merchant Maverick
Managing Editor Shelbi Wescott has been researching and comparing small business payroll and accounting software since 2019. An accomplished author in both the science-fiction and mystery genres, she received an Honorable Mention for Best YA Mystery from the Library Journal for her novel After Life. Shelbi has a BA in English Literature and a Masters in Teaching from Lewis and Clark College.
Shelbi Wescott
View Shelbi Wescott's professional experience on LinkedIn.
Leave a comment

359 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.

    Hung Vuong

    Hi i got approved for eidl grants 15k in total. But the bank that I provided when I apply for the grants is no longer in used. I was wondering how can I update the new bank account to the sba and how long it take to process the fund? Thank you

      Jessica Dinsmore

      Hi Hung,

      You’ll need to contact the SBA’s Disaster Assistance Processing and Disbursement Center. Explain your situation to them by phone or email. Bear in mind that you may have to be persistent and patient given the volumes of applicants the SBA is dealing with. As far as the timeline goes, the SBA hasn’t advised a timeline for application errors and corrections, so we don’t have that information, unfortunately. Best of luck to you!

        Kevin Capers

        Hi submitted my application for the sba loan on 8/13/2021 three days later I was denied due to a low credit score…. I received an invitation to apply for the eidl grants for 10,000 and 5000….I submitted my application on the 8/16201 today is Friday 9/3/2021 the up coming Monday will be 21 days do you think it will be approved are denied like the loan was and is this normal to take the whole 21 days are do most ppl get a quick response like I did for the original loan application? Are even better can I even receive a grant still after I was denied for the loan???

          Erica Seppala

          Hi Kevin!

          It is possible to receive an EIDL grant even if you don’t qualify for the EIDL loan itself. As far as receiving a decision on the status of your grants, there have been quite a few delays for many applicants during the EIDL process, so I would just encourage you to remain patient, continue to check your email and the EIDL portal, or reach out to the SBA by phone or email if you have any questions about your status. Good luck!

            Kristy

            Hi did you get approved for the grant?

              Cory Jackson

              just found out i got approved on 9/1. how long should it be before i get funded?

                Erica Seppala

                Hi Cory!
                Unfortunately, there’s no set timeline for how long it will take for your EIDL funds to be disbursed. While some borrowers received funds within 7 to 10 days, others have been left waiting for weeks or longer. I would encourage you to keep in contact with the SBA regarding the status of your loan disbursement, as well as keep an eye on your bank account. Good luck!

                  DREAMWISE

                  Hi Cory,

                  just wondering if you received your eidl disbursment and how long did it actually take?

                  More Comments

                  Leave a Reply

                  Your email address will not be published. Required fields are marked *

                  Your Review

                  Comment moderation is enabled. Your comment may take some time to appear.
                  Please read the "User Review and Comment Policy" before posting.

                  Share

                  Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

                  PPP & EIDL Are Not Your Only Options

                  The SBA has expanded their loan portfolio and we have the list that no one else is talking about (yet) — Sign up for our newsletter to get your free copy!

                  • This field is for validation purposes and should be left unchanged.

                  Sign up for the Maverick Newsletter

                  • Please select topics of interest

                  • We occasionally send out emails with special offers.
                  • This field is for validation purposes and should be left unchanged.