2021 Targeted EIDL Advance Grant: What Does Your Small Business Need To Know Now?
The 2021 EIDL Advance Grant gave a boost to small businesses hurting from pandemic complications. What is the current state of the program?
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Expert Analyst & Reviewer
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On December 27, 2020, the COVID-19 Targeted EIDL Advance was signed into law. The 2021 EIDL Advance was available to previous EIDL Grant applicants that received less than the full $10,000 Advance in the first round of COVID EIDL Grant funding in 2020, and were also located in economically distressed areas, and had suffered a 30% loss in income due to COVID.
On January 1, 2022, the SBA stopped accepting applications for new COVID EIDL loans and advances but continued to process previously submitted applications. In May 2022, the SBA announced the program had run out of funding, and as of May 6, 2022, the SBA stopped processing all COVID EIDL applications, increase requests, and requests for reconsideration.
The SBA also announced a deferment extension, effective for all COVID EIDL loans approved in calendar years 2020, 2021, and 2022: loans now have a total deferment of 30 months from the date of the Note. Note that only EIDL loans—not advances/grants—need to be repaid.
Table of Contents
What Is The Targeted EIDL Advance Grant Program?
SBA’s 2021 EIDL Advance Grant (now ended) provided grants as large as $10,000 that did not need to be repaid. The 2021 EIDL targeted grants were restricted to previous EIDL Grant applicants that received less than $10,000 in the first (2020) round of EIDL Grant funding. In addition to previous EIDL applicants that received a partial EIDL Advance between $1,000 and $9,000, businesses eligible for the 2021 program also included those that previously applied for an EIDL Grant but didn’t receive one due to a lack of available funding.
The 2021 EIDL Advance program was additionally restricted to businesses located within economically distressed areas that could also prove they suffered at least a 30% loss in income due to COVID during an eight-week period beginning on March 2, 2020, or later.
Businesses did not need to apply for the 2021 EIDL Grant; the SBA reached out to those eligible.
Are There Other Grants Like The Targeted EIDL Grant 2021?
While the US government is no longer funding COVID-related small business programs such as COVID EIDL or PPP loans, there are still various grant programs designed to help struggling small businesses in general. Some of these programs are federally funded, though they may not be as easy to obtain compared to the COVID relief funds offered in 2020 and 2021.
For example, you can apply for a non-COVID EIDL relief loan from the SBA. These loans are not forgivable and are limited to businesses located in a disaster area that have suffered economic damage as a result of said disaster.
There are also various small business grants funded by business organizations, local governments, or even for-profit companies. These grants may be limited to certain demographics of business owners, such as minorities, veterans, or women. Here are some resources to get you started:
- 10 Minority Grant Opportunities For Small Business In 2022
- 5 Grants Your Veteran-Owned Small Business Or Startup Could Get In 2022
- 8 Grants For Women-Owned Small Businesses You Could Get In 2022
Scroll down to “More Funding Resources for COVID Relief” to see some more small business grant and loan options.
Can You Still Apply For A Targeted EIDL Advance 2021 Grant?
You cannot apply for an SBA EIDL Advance 2021 as of January 1, 2022, as the program stopped accepting new applications on this date.
And as of May 6, 2022, the EIDL Advance program is officially out of funds, so it is no longer even processing previously submitted applications, nor is it accepting loan increase requests or requests for reconsideration of previously declined loan applications.
Previous EIDL applicants and recipients should also know that the COVID-19 EIDL portal (covid19relief1.sba.gov, aka the “RAPID portal”) will be officially closed as of May 16, 2022. If you received an EIDL loan or advance at any point, you should download your loan documents from the portal in advance of this date.
EIDL Advance 2021 FAQs
More Funding Resources For COVID Relief
Even if you didn’t receive an EIDL Advance in 2021, that doesn’t mean your small business isn’t eligible for any other type of financial relief, pandemic-related or otherwise. There may still be small business grant options you can apply for, as well as low-interest loans you could use to fund your business. Check out these additional SMB funding resources for business owners who still need coronavirus relief or just need a financial boost to start or continue operating their business:
- How To Find Federal, State, & Local Government Small Business Grants
- Small Business Grants: Get Free Money Through These 8 Grant Resources
- 5 Places To Find Grants For Trucking Companies, Truckers, Or Startups
- Don’t Want (Or Were Denied) An EIDL Or PPP Loan? Here Are Your Best Small Business Loan Alternatives
Shannon Vissers
Expert Analyst & Reviewer at Merchant Maverick
The former editor-in-chief of SteelOrbis, Shannon has been researching and writing about small business software and financing since 2015. Her shopping and retail expertise has been cited in numerous publications, including Reader's Digest, MSN, Yahoo Finance, and GOBankingRates . She has also published articles for LIVESTRONG.COM, eHow, Life'd, and other websites. Shannon attended San Diego State University, graduating in 2005 with a BA in English.
View Shannon Vissers's professional experience on LinkedIn.
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Hi!
I want to know if there’s any update in the grants info and if I can apply for it.
I loss my business and I know I need to pay for the loan, but at least I want to know if I can have a grant.
Another question is: I have been looking in the website of pay.gob and looking to see my balance and I can’t find it. Any help?
Thanks
This comment refers to an earlier version of this post and may be outdated.
Hi Isabel,
You would need to be invited to apply for the targeted grant (by the SBA), but if you no longer have a business, unfortunately, you aren’t going to be able to qualify for the grant.
Here are instructions on how to view your loan balance on Pay.gov:
You need to navigate to the https://caweb.sba.gov site to view your SBA loan information.
NOTE: Pay.gov is unable to assist with enrolling or logging into the SBA’s Capital Financial System, please contact the SBA for assistance at [email protected] or 1-833-572-0502 (M-F, 8 am – 8 pm).
We wish you the best of luck!
This comment refers to an earlier version of this post and may be outdated.
What happens is I filed my business under my name in 2019 and then got business LLC and filed under that name on 2020 taxes. Will I get denied for Targeted advance? Also do they count regular unemployment from my job as part of my business income?
This comment refers to an earlier version of this post and may be outdated.
Hi Shawnte,
We weren’t able to find any guidance from the SBA for your situation. Our advice would be to contact the SBA at 1-800-659-2955 to inquire since this situation isn’t addressed in any of the Targeted Advance documentation we’ve reviewed. Unemployment benefits are not calculated as part of gross receipts to determine if a person is eligible for EIDL or the Advances. However, there is one important thing to note. If you receive a loan or advance and use these funds to pay yourself, this MUST be reported to the employment office if you are still drawing benefits. Getting unemployment benefits and using EIDL funds for owner’s compensation is considered “double-dipping” and could spell big trouble. If you’re still receiving unemployment benefits, you can continue to do so while receiving an EIDL loan or grant assuming that the EIDL funds are used for other purposes, such as purchasing supplies or inventory. Best of luck!
This comment refers to an earlier version of this post and may be outdated.
my targeted eidl advance was sent to an account that does not accept SBA loans grants or anything else it was returned to the SBA that a month and a half two months ago i have continuously sent voided checks my ID my tax forms my 4506 T form everything necessary to every email the SBA and they still havent sent my grant money to the update bank. my bank account so overdrawn its gona start hurting my credit and will most likely the bank will close my account soon ive lost everything trying to stay above water waiting on this so called gov. help i have nothing coming in do to lack of work b/c of covid everthing is
late. No help anytime soon losing everything outa money and the sba is just dragging their feet
This comment refers to an earlier version of this post and may be outdated.
Hi T,
We are so sorry to hear this. You’ll want 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. Best of luck! And please let us know if this helps!
This comment refers to an earlier version of this post and may be outdated.
I’m in the exact same spot!!! I have almost given completely up!!!! I don’t believe SBA even cares! They used to seem a little caring the first 4 Months. When I’d call. And now are just rude! Or I’m transferred and then hung up on!!! It’s fixing to be 6 months now that my f*****g bank returned the money! And since I got them all the new info to resend! My business is about to be dead !!!if they ever do send the money I may not even have the account still open to recieve it!! So tired of yelling , then crying!
This comment refers to an earlier version of this post and may be outdated.
I was contacted by the sba for the targetted advance. turned in all requested paperwork and recieved an email to resubmit my id within 48 hrs. I did then recieved an email that stated denied due to not in a low income community. I am operating in Annada, MO which fits the criteria set by the sba for low income. I emailed them and was directed to a re- evaluation email. I sent what they said and havenot heard anything since late april. My understanding is that this was a grant to go against the 10,000 that i recieved as an eidl in 2020. can i check the status. This is crucial that i recieve that grant. thanks any info will help
This comment refers to an earlier version of this post and may be outdated.
Hi Joshua,
If you received an invitation from the SBA and subsequently applied, you can check the status of your Targeted EIDL Advance through the SBA’s Economic Injury Disaster Portal. Best wishes to you!
This comment refers to an earlier version of this post and may be outdated.
I apply for targeted Advance in feb, Its been saying , (submit for two months) no email at all
This comment refers to an earlier version of this post and may be outdated.
Hi Nancy,
If you received an invitation from the SBA and subsequently applied, you can check the status of your Targeted EIDL Advance through the SBA’s Economic Injury Disaster Portal.
This comment refers to an earlier version of this post and may be outdated.
Hi there, I was recently approved and have received the funds for my EIDL loan, I am a contractor. I want to know if it is possible to receive the funds in cash manner to pay for certain payments and operating costs?
Thank you!
This comment refers to an earlier version of this post and may be outdated.
Hi Wyatt!
You can absolutely withdraw funds from your checking account to make payments with cash. My advice would be to always make sure you have documentation backing up any purchases (whether paid by cash, check, credit card, or another method). This could be in the form of receipts, invoices, or another form of documentation. Good luck!
This comment refers to an earlier version of this post and may be outdated.
I have submitted my application. How long before it will be finished processing?
This comment refers to an earlier version of this post and may be outdated.
Hi Ronni,
This is what the SBA says:
“Once the SBA has received all requested documentation, we will process the information and issue any additional funds as quickly as possible. The SBA’s goal is to process all requests within 21-days of receiving a completed application. All application decisions will be communicated via email.
Business owners can contact SBA’s Customer Service Center at 1-800-659-2955 or by email at
[email protected] if they have questions about the Targeted EIDL Advance program.”
This comment refers to an earlier version of this post and may be outdated.
I applyed for a edil loan in July of 2020 and approved in July signed my papers and still have not received my loan. Now their was fraud thought to have been and my bank sent the money back. “Understandable “. I submitted all the paper documents requested by October everything was finalized in November and submitted and ok. Their has been more action required from me. It is now may 2021 and I have still yet to receive my loan this has been a experience and very frustrating ive almost lost everything my business is on its last leg. Every time I call the sba its a new excuse to why it is taking so long. I wish I had a better review but its far from a good experience
This comment refers to an earlier version of this post and may be outdated.
Hello i’ve been told that Daca business owners are receiving the targeted EIDL advance but me been one of them was declined by the sba, does anyone have any info on this matter>?
This comment refers to an earlier version of this post and may be outdated.
Hi doomedlove!
According to the SBA, the following applies to non-US citizens when applying for the EIDL: “A non-US citizen who owns 20% or more of the business is eligible if they are classified as a ‘noncitizen national’ or ‘qualified alien.’ Qualified aliens include permanent residents with a current green card.” If this requirement is not met, the application will be rejected. You can check out the SBA’s FAQs on EIDLs for more information on qualifying for a loan. Good luck!
This comment refers to an earlier version of this post and may be outdated.