SBA Economic Injury Disaster Loan Application Extension Through 2021

SBA Economic Injury Disaster Loan Application Extension Through 2021

Posted on January 07, 2021 at 12:55 PM. Written by Entrepreneur Fund

Copy of Copy of COVID 19 Blog Graphic (1)The U.S. Small Business Administration on January 5, 2021 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.

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. 

Apply for a Economic Injury Disaster Loan 

 

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