EIDL $10K Advance – Tuesday, April 7, 2020 9:38PM

Because inquiring minds want to know…to date and the best of our knowledge, no one across the nation has yet received their $10K EIDL loan advance.  The recent stimulus included an advance of up to $10K on expected EIDL loan proceeds “within 3 days.”  Days have gone by now and the question becomes…within 3 days of what?  Some banks are saying the applications first have to be processed and the funds will be issued within 3 days after approval.  However, the regs clearly stated you did not have to be approved for the loan to be eligible for the advance portion; so why wait for approval?  But we know the banks are having as much or more difficulty keeping up with the frequently changing rules as everyone else is.