Garrett County Government - Department of Business Development

COVID-19 EIDL Portal Closes May 16, 2022

Last Updated on May 16, 2022 at 11:36am | Business Resources

As of January 1, 2022, the Small Business Administration (SBA) stopped accepting applications for new COVID-19 EIDL loans or advances.
 
As of May 6, 2022, the COVID-19 EIDL funds are exhausted, and SBA is no longer accepting COVID-19 EIDL loan increase requests or requests for reconsideration. 
 
Approved borrowers who have not signed their loan closing documents must do so by May 16, 2022, or will face delayed disbursement or possible loss of funding.
 
The COVID-19 EIDL portal, also known as the "RAPID portal," will close on May 16, 2022. Borrowers should download their loan documents from the portal prior to this date.