See what's new with EIDL loans, and learn about a new grant designed to help women entrepreneurs.
Dear <<First Name>>,
Two years ago Tulsa Responds began providing free navigation services to small businesses in Tulsa like yours. In that time we've helped 861 businesses apply for 1863 loans and grants totaling nearly $200 million dollars! We are honored to have had this opportunity to work with business owners like you. We hope we've been helpful to you during these volatile and uncertain times. If we have, and if we've helped make a difference for you and your business, please reply to this email and let us know a little bit more about your experience. Thank you in advance!
Even though it's been two years, EIDL and grant opportunities continue to be updated. There are many new updates in this email, reading it could get you thousands of dollars!
First, we received information from the SBA last week about the amount of EIDL funding that remains. Good news: There's still around $18B left in EIDL funding and based on the numbers we heard, everyone currently in the queue should be able to get funded.
Second, there is a new $10k grant opportunity targeted to female entrepreneurs: The KKR Small Business Builders grant program is offering a $10k grant to female entrepreneurs with 51% ownership in their business with 5 or more employees. More information can be found at Hello Alice and step-by-step instructions can be found here.
Additional grant opportunities can be found here, keep checking this document for updates!
If you have yet to receive your EIDL funding, please continue reading. In the event that you have already received it, please feel free to stop reading here.
PREVIOUS EIDL APPLICANTS
Did you get the maximum amount on your EIDL Loan? If you received an EIDL last year, you can request approximately two times your original loan amount and payments will be deferred for 2 years. If you would like to increase your original EIDL amount follow the instructions below:
Visit the SBA portal to see if you’re eligible for an increased loan and follow the instructions on the website (you can also check the status of your loan here)
Use subject line "EIDL Increase Request for [insert your 10-digit original EIDL application number]"
Be sure to include in the body of your email identifying information for your current loan including application number, loan number, business name, business address, business owner name(s), and phone number.
IMPORTANT: Do not include any financial documents or tax records with your initial request. You will receive a follow up email notification if we need additional documents.
WAS YOUR FIRST EIDL ADVANCE GRANT LESS THAN $10,000?
EIDL loan holders who received a grant less than $10,000 due to exhausted funds may be eligible to receive the remainder of their grant. If eligible, you will not have to pay this money back. Take a few minutes to check the status of your existing application, you could be missing out on thousands of dollars! Check this SBA Mapping Tool to see if your business is in a qualifying neighborhood (much of North, East, and West Tulsa are eligible!)
SBA.gov sent emails to eligible businesses over the summer. Check your email for emails from sba.gov, if you cannot find your invitation email, contact SBA’s Disaster Customer Service Center at 1-800-659-2955 or by email at TargetedAdvance@sba.gov to request a new invite. Please note that this process may take several business days. Applicants seeking reevaluation of a declined application for a Targeted EIDL Advance or a Supplemental Targeted Advance should send an email to TargetedAdvanceReevaluation@sba.gov.
Approximately 1/3 of small business owners and their employees are uninsured, but thanks to the Affordable Care Act (ACA) it doesn't need to be this way. Tulsa Responds provides free enrollment assistance so that you and your employees can choose an affordable insurance plan. Our navigators are impartial and receive no commission for this service so you can rest assured that you and your employees are getting sound advice. For assistance go to our website www.tulsaresponds.org/healthinsurance.
ADDITIONAL LOAN OPPORTUNITIES
Looking for additional loan opportunities? Check out the options below:
Max Loan Amount: $5 Million What you need to know about this loan: The 7(a) Loan Program provides financial help for small businesses with special requirements. This is the best option when real estate is part of a business purchase, but it can also be used for:
Short and long-term working capital
Refinance current business debt
Purchase furniture, fixtures, and supplies
As always, please don’t hesitate to give me a call and let me know if you have questions!