Checking Your EIDL Loan Status

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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
What Is an EIDL Loan?
Applying for EIDL Loans
Step 1: Make Sure You Qualify
The business was operational as of January 31, 2020. The business entity falls under one of the following categories: small businesses, qualified agricultural businesses, eligible nonprofit organizations, Veterans organizations, Tribal organizations, independent contractors, self-employed individuals, or sole proprietors. The business has fewer than 500 employees (or meets the SBA’s small business size standard for their industry).
Step 2: Gather Your Documents
2019 Federal Income Taxes, including all schedules
2020 Federal Income Taxes, including all schedules
If the most recent Federal income tax return has not been filed, a year-end profit-and-loss statement and balance sheet for that tax year
SBA Form 2202 – Schedule of Liabilities
List of Real Estate Owned
SBA Form 413 – Personal Financial Statement for general partners, managing members, and all owners of 20% or more of the applicant business
Step 3: Apply Online
What to Know About the EIDL Grant
What to Expect After Applying
How to Check Your EIDL Loan Status
SBA Website
By Email
By Phone
Be Wary of Scams
What if Your EIDL Loan Is Declined?
Your application number Business name Borrower’s name Business federal tax ID or Social Security number Additional information to prove your case
Alternatives to EIDL Loans
The Takeaway
About the Author
Susan Guillory is the President of Egg Marketing, a content marketing firm based in San Diego. She’s written several business books, and has been published on sites including Forbes, AllBusiness, and Cision. She enjoys writing about business and personal credit, financial strategies, loans, and credit cards. Follow her on Twitter @eggmarketing.
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