The Colorado Office of Economic Development and International Trade (OEDIT) posted an updated on the Economic Injury Disaster Loan (EIDL) application process as many businesses that have applied are uncertain of their status. They have worked with the U.S. Small Business Admiration (SBA) sharing the concerns and how the SBA is working to resolve these challenges. The below message is from OEDIT and links to reactive any relevant applications are included.
Many businesses that have initiated an Economic Injury Disaster Loan application are uncertain of their status and/or have received emails that leave their loan status in doubt.
We received this feedback from applicants and have worked with the U.S. Small Business Administration to share these concerns. The SBA is actively working to resolve the intake process challenges; however, the corrected process has inadvertently created duplicate applications in some cases and those duplicates may need to be reactivated in order to be processed. Doing so will not alter the place in line that your initial application secured but it is necessary to continue processing your application.
Businesses with an application number in the 200’s series will need to reactivate their application in the SBA portal. Reactivate here: https://lnkd.in/eEVPQce. The site may state that EIDL applications are only open to new agricultural businesses, but OEDIT has confirmed that if someone has a 200 series EIDL loan number, they WILL be able to reactivate and have their new loan number tied to their original loan number to maintain their place in line.
Businesses with an application number in the 300’s series DO NOT NEED to reactivate their application as it is currently in the review process.