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The Small Business Owner’s Guide To Getting An EIDL Loan Increase


Business loans were not the panacea they promised to be for small businesses during the COVID-19 pandemic, but they helped plenty of small businesses stay solvent and keep as many employees as possible on the payroll during the long months when in-person business activities in the Washington, D.C. area were heavily limited. Perhaps your company got an EIDL loan, and it helped you stay afloat until now, but even though the D.C. area has a high percentage of vaccinated people who are eager to shop and dine in person, and even though the daily number of new COVID cases is declining in many parts of the country, leading optimists to speculate that the delta variant surge is on its way out, the economy is not exactly booming these days. If you need another business loan, you may not need to start from scratch with a loan application. The Small Business Application (SBA) is offering loan increases to businesses that have already received Economic Injury Disaster Loans (EIDL) during the pandemic. A small business lawyer can help you make the most of your second round of EIDL funding.

How to Apply for an EIDL Loan Increase

You can apply to receive an additional amount of money under your existing EIDL loan agreement by requesting a loan increase through the SBA website. When you log into the website, you will see a button that says “request an increase” if you are currently eligible to receive one. You can also click the “quote” button to find out the maximum amount of funding you are eligible to request. The formula for determining how much each business can borrow depends on the company’s 2019 revenues and the cost of its goods sold, if any. Some businesses can borrow as much as $2 million this time around.

After that, the website will ask you to submit some of all of the following documents:

  • Consent for the SBA to request your business tax returns from the IRS (form 4506T)
  • Standard resolution (ODA form P-022)
  • Schedule of liabilities (SBA form 2202)
  • Personal financial statement (SBA form 413)
  • List of real estate owned (online form on the SBA website)

It could take up to nine weeks for the SBA to disburse the next round of funding. The wait times are longest for businesses that initially borrowed less than $500,000 but are requesting a loan increase in excess of that amount. During the application process, the SBA may also contact you to request additional documents.

How to Contact the SBA About Problems With Your Loan Increase Request

Email pdc.reconsideration@sba.gov if months go by without a response or if the SBA denies you loan increase application, citing “unverifiable information.” If the SBA website inexplicably tells you that you are ineligible for a loan increase, email covideidlincreaserequests@sba.gov. For all other issues, email disastercustomerservice@sba.gov.

Contact an Attorney for Help

A Washington DC small business lawyer can help you make a modestly sized EIDL loan go a long way. Contact Tobin, O’Connor & Ewing for help with your case.



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