Applying for the $10,000 EIDL Emergency Grant – Step by Step

If you’re like many drivers, you’re approaching May 1 with worries of when you’ll receive your stimulus check, unemployment relief and more. But did you know there’s another opportunity for drivers to get money? It’s called the Economic Injury Disaster Loan (EIDL) program, and below senior RSG contributor Jay Cradeur will walk you through applying for the Economic Injury Disaster Loan program.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which passed on March 27th, has many opportunities for Uber and Lyft drivers to obtain financial support during these trying times.

We covered many of the ways drivers can get free money right now, including from the $1,200 per adult stimulus check, unemployment, and more.

One other option you have is the Economic Injury Disaster Loan (EIDL) $10,000 Grant which is designed to help small businesses get through this unprecedented financial challenge.  In this article, I will lay out step by step how to apply so you can go and apply right away (like right now!).

Quick links:


What We Have Heard About the Economic Injury Disaster Loan for Drivers?

Thus far, I have not heard that anyone has received the $10,000 Grant.  However, this is not surprising given the government does not have a keen reputation for speedy results.

I have heard that the Small Business Administration is overwhelmed by the sheer volume of requests.  We have also heard that rather than obtaining a $10,000 grant, small businesses will only be granted $1,000 per employee.  This is a rumor at this point, but I have seen it in several articles.  Still, something is better than nothing.

The other thing I heard today, and this was from a legitimate financial advisor, is that if you applied for your EIDL grant more than four days ago and you have not received a confirmation email, then you should apply again.  The reason for this is it is very likely that the SBA may have lost your application due to the overwhelm on their systems.

Therefore, even though I applied almost a week ago, I went ahead and applied again a few days later.  I like the metaphor of all of us being fishermen and the more lines we have in the water, the better our chances of catching some big fish.

Getting Started With the Economic Injury Disaster Loan Grant

Go to Google and type in “EIDL Grant Application.”  This will take you to the SBA page you need to get to in order to start the process:

Once you get to the page, scroll down to where it says to apply, “click here.”

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Filling Out the Economic Injury Disaster Loan Form

There are only four pages of questions for you to answer.  This first screen asks you questions about your business structure.

For most of us, we would check the second box below,  indicating we are an Independent Contractor.  If you have a business structure set up, such as a Limited Liability Company (LLC), then you would check the first box.

applying for the Economic Injury Disaster Loan programNext, the SBA wants to ascertain the veracity of your business.  As long as you answer each of the following questions with a checkmark, then you will be able to move forward.

If you can’t check all the boxes, then you are not going to be able to apply.

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applying for the Economic Injury Disaster Loan programThe second page is designed to collect all your business information.  If you don’t have a business structure set up with a business name, then use your legal name for Business Legal Name.

Similarly, if you don’t have an Employer Identification Number (EIN), then use your Social Security Number (SSN).  You do not need to get an EIN in order to apply for the grant.

applying for the Economic Injury Disaster Loan programYou will notice that the fields are red until you correctly fill in the field.  Then it will turn green.

In this section, you will be asked for your company’s revenue and expenses.  Be as accurate as possible.  As a rideshare driver, you can look at your 1099s from Uber and Lyft or perhaps you drive for a delivery company.

Your expenses are things you had to spend money on to run your business.  For a driver, this would be things like car supplies and gas.

You will also be asked when your business was established.  I would use the first day you worked as a rideshare driver.

applying for the Economic Injury Disaster Loan programOn page 3, you will provide all the information about you. Be as accurate as possible.

For your title, you can put what you like. I put Manager.

applying for the Economic Injury Disaster Loan programThis is the final page before getting to the Summary page.  On this page, you will provide just a bit more information.

There are three questions at the top and each must be answered with “No.”  If you answer Yes, you will not be able to get the $10,000 grant.

Then at the end of this page, you will get to input your bank account information.  This will put a skip in your step as you imagine the day when $10,000 is miraculously dropped into your bank account.  Then, a few days later, you may start to wonder if that day will ever come.

Keep the faith.  And remember, we are fishermen and all we are doing is fishing for something we never had, so if we don’t get it, we will still be OK. Even if it ends up only being $1,000 per person, it’s still $1,000 we didn’t have before.

applying for the Economic Injury Disaster Loan programThe next to the last step is to check the little box verifying you provided accurate information.  Then click on Next and you will be sent to a Summary Page for a final review.

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applying for the Economic Injury Disaster Loan programGive it a once over.  Verify you are not a robot.  Click on Submit and then you will be shown your Application Number.

You will not be sent an email right away.  Therefore, I recommend you take a screenshot (Command Shift 3 on a Mac) so you have a record of your number.  Also, take note of today’s date and be sure to check your email on Day 5.

If you have not received anything regarding your application, you might consider doing this again.  It will only take 10 minutes the second time you do it.

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Key Takeaways

I have not driven for Uber or Lyft since February 2nd.  That is over 2 months without rideshare revenue coming in.  To date, I have not received any unemployment, nor $600 per week, nor a $1,200 stimulus payment, nor a $10,000 grant.  I was declined today for unemployment.

Consequently, before writing this article, I completed an appeal document that included a quarter-by-quarter breakdown of my earnings as well as my Lyft 1099s for 2018 and 2019.

I also wrote a sincere request stating the fact that the CARES Act provides unemployment benefits for Independent Contractors so would you be so kind as to approve this application as it has been two months since I stopped working.

That is what I call throwing another line in the water. Keep fishing. Be safe out there.

Drivers, have you received any money, either from unemployment, stimulus funding, or grants yet? If so, let us know below!

-Jay @ RSG