It is important to note that the EIDL program has greatly evolved in the last few months to facilitate different types of small businesses across the country. Before you apply for an EIDL LLC certificate or this program, you should get complete information about the program to make sure you are choosing the best loan for your business.

Basics of the EIDL Program
SBA’s EIDL program has always been known for providing funds to the companies that are going through disasters declared by the federal government. In the original terms and conditions of this program, the companies were eligible to get up to $2 million in loans directly from the SBA for 30 years at an interest rate of up to 4%.
The COVID-19 pandemic has greatly enhanced the popularity of the EIDL program because it allows many types of organizations to get the capital quickly and survive this global pandemic. However, this rise in popularity has also brought several changes to the EIDL program.
The EIDL program was modified under the CARES Act to make the loan program align with the current unprecedented conditions created by the pandemic. Following restrictions were waived under the CARES Act:
Providing a personal guarantee of up to $200,000
Making it compulsory for the borrower to be present in the business for at least one year
Waiving these restrictions allows a greater number of business owners to apply for the SBA EIDL program. However, it is important to note that the SBA has restricted the funding to a maximum amount of $150,000 so that it can process and possibly accept a large number of loan requests.
Eligibility
Any type of business entity like LLCs, sole proprietors, S Corps, and many others can apply for the EIDL program directly from the SBA websites. The LLCs must have LLC certification for the SBA loan. Moreover, the number of employees of any type of company must be lesser than 500 to be eligible for the EIDL program.
The repayment of the loan usually starts after one year from the funding date, and an interest rate of 2.75% to 3.75% is applied to the transactions for 30 years. The rules also make it clear that the loan should be utilized for fixed debts like rent, payroll, and other such bills.
Emergency Grant
Up until July 2020, the EIDL program also consisted of a clause according to which the companies were eligible for an emergency grant of $10,000. However, this grant was discontinued due to a lack of funds.
Now the loan amounts are decided case by case based on the projected revenue loss that a company is going through in a disaster. Determining the projected revenue losses is challenging in the COVID-19 pandemic than a natural disaster because the EIDL program is not used to deal with such situations of the pandemic. As a result, there is a lot of uncertainty among the organizations about what kind of amount they can get from the SBA EIDL program.
A major benefit of the EIDL program is that it can provide funding to a wide range of companies. The PPP funding is limited to small companies and nonprofits like the 501c3 organizations. On the other hand, the EIDL program allows other types of organizations like social welfare companies to apply for funding.
Role of LLC Certificate
Whenever a company, particularly Limited Liability Corporation (LLC), is applying for an SBA loan like the EIDL program, it must have an LLC certificate for the EIDL program.
The following information is required during the process of obtaining a certificate of organization:
Complete name of the LLC
Date
Name and address of the agent that is registered with the LLC
Address of the LLC’ official offices
Details about who is going to run the LLC
The name and address of each organizer of the LLC might have to be provided
Other information required in an LLC certificate is highly dependent on the rules and regulations of different states in which you are going to establish your LLC.
Conclusion
Even after knowing all of these factors, applying for the SBA EIDL program can still be a hectic and confusing procedure. Therefore, you should rely on the experts and professional accountants to help you in this process by fulfilling the various requirements like creating an LLC certificate for an SBA loan and other such procedures quickly and reliably.

Relevant Source:
https://freedomtaxaccounting.com/llc-certificate-sba-eidl-loan/