There are two main ways you can apply for an EIDL coronavirus business loan from the SBA. The SBA recommends using the online application for an easier, faster, and more accurate application process. The SBA recently revamped and streamlined the process for applying for an EIDL, and you can find the application by clicking HERE.
According to the SBA, the Paycheck Protection Program will be up and running on Friday, April 3. Business owners will be able to apply for a PPP loan through a participating SBA lender, bank, or credit union and be approved the same day. Because the SBA will not review loan applications and lenders only need to determine if a business was operating before a certain date, the hope is that the application and disbursement process will be streamlined.