SBA Extends COVID-19 Economic Injury Disaster Loan Application Deadline through Dec. 31, 2021
Summary
SBA news release 20-93, published December 30, 2020 by the Office of Communications. It announces that the deadline to apply for the Economic Injury Disaster Loan (EIDL) program under the COVID-19 Pandemic disaster declaration is extended to Dec. 31, 2021, as a result of the bipartisan COVID-19 relief bill enacted by President Trump on Dec. 27, 2020. The release says SBA has approved $197 billion in low-interest working capital loans to small businesses, nonprofits and agricultural businesses.
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Archived news release 20-93 SBA Extends COVID-19 Economic Injury Disaster Loan Application Deadline through Dec. 31, 2021 WASHINGTON— The U.S. Small Business Administration today announced that the deadline to apply for the Economic Injury Disaster Loan (EIDL) program for the COVID-19 Pandemic disaster declaration is extended to Dec. 31, 2021. Published on December 30, 2020 by Office of Communications WASHINGTON — The U.S. Small Business Administration today announced that the deadline to apply for the Economic Injury Disaster Loan (EIDL) program for the COVID-19 Pandemic disaster declaration is extended to Dec. 31, 2021 . The deadline extension comes as a result of the recent bipartisan COVID-19 relief bill passed by Congress and enacted by President Trump on Dec. 27, 2020. To date, the SBA has approved $197 billion in low-interest loans which provides working capital funds to small businesses, non-profits and agricultural businesses make it through this challenging time. “Following the President’s declaration of the COVID-19 Pandemic, the SBA has approved over 3.6 million loans through our Economic Injury Disaster Loan program nationwide,” Administrator Jovita Carranza said. “The EIDL program has assisted millions of small businesses, including non-profit organizations, sole proprietors and independent contractors, from a wide array of industries and business sectors, to survive this very difficult economic environment.” EIDL loan applications will continue to be accepted through December 2021, pending the availability of funds. Loans are offered at very affordable terms, with a 3.75% interest rate for small businesses and 2.75% interest rate for nonprofit organizations, a 30-year maturity, and an automatic deferment of one year before monthly payments begin. Every eligible small business and nonprofit are encouraged to apply to get the resources they need. About the U.S. Small Business Administration The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov . Related programs: Disaster Media contacts U.S. Small Business Administration Email Press_Office@sba.gov
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