When Do You Get SBA Deposits After the EIDL Advance or Portal Emails?


Many small business owners have reported getting an email from the SBA with details about how their loan advances are calculated for the EIDL (Economic Injury Disaster Loan.) But once you get this email, how long will it typically take to then get your loan deposit? And is the SBA EIDL Portal Account real? Here is what business owners are reporting so far as they seek funding during the coronavirus pandemic.

The SBA Portal Account Is Real

Numerous business owners have shared that they received the same EIDL email from the SBA that explains they are entitled to received “up to a maximum of $10,000” — they’re not guaranteed $10,000 up front. The email reads as follows.

Dear Applicant,

On [DATE], following the passage of the CARES Act, the SBA provided small business owners and non-profits impacted by COVID-19 with the opportunity to obtain up to a $10,000 Advance on their Economic Injury Disaster Loan (EIDL). The Advance is available as part of the full EIDL application and will be transferred into the account you provide shortly after your application is submitted. To ensure that the greatest number of applicants can receive assistance during this challenging time, the amount of your Advance will be determined by the number of your pre-disaster (i.e., as of January 31, 2020) employees. The Advance will provide $1,000 per employee up to a maximum of $10,000.

Business owners are noting that they got an advance deposit within hours to two days after receiving this email.

The timelines are being shared on the subreddit called SmallBusiness. Redditor u/SuperFast123 wrote that six hours after getting the email, they then received an email titled: “Create your SBA Economic Injury Disaster Loan Portal Account.” The portal website also notified them of just how much money they were going to qualify to receive. They haven’t received the deposit yet, but they received confirmation that it was coming six hours after getting the general mass email about the SBA EIDL advance. Another person said that they got the portal email about 20 hours after getting the advance email.

Here’s what the portal looks like, as shared by u/adamlames and confirmed by other small business owners.



One person on Reddit wrote that most business owners received their advance within 24 hours of getting the mass email. Another wrote that the deposit may take as long as two days to arrive after you’ve gotten the mass email and finished your portal submission.

In general, it appears that if you get the email talking about the amount of your advance, then you’ll get your deposit within one to two days after that. It’s not guaranteed, of course, since there have been quite a few issues with the SBA EIDL applications. But this is what business owners have been experiencing so far.

Forbes reported that some businesses may only get $15,000 total in loans due to a limit in funds available, but some business owners have reported being offered as much as $500,000 or more. Forbes noted that you can write disastercustomerservice@sba.gov with questions, but the account has been notoriously slow at responding.

But what about the full loan amount and not just the advance? On Reddit, u/kitehigh911 said they applied on March 16 and received their full EIDL funding yesterday. They said the SBA will call and email you after you accept the loan offer, and you’ll need to sign documents and scan them back to the SBA. Others said that just before getting their full loan offer, the SBA called them to confirm information. So be sure and answer your phone if you’re waiting on loan approval. The SBA might be calling you.

According to JD Supra, the total timeline for the EIDL is typically 18 to 21 days to get approval after the application is made, followed by another five days to get funding. So in total, expect it take about a month after you apply to get funding.

According to COVID Loan Tracker, out of 6,860 small businesses reporting, 1.5% have received EIDL grants and 4% have received PPP loans.

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