EIDL Application Deadline Extended

EIDL Application Deadline Extended

Published on January 05, 2021. Article written by Adam Boatsman.

The U.S. Small Business Administration (SBA) has announced that the deadline to apply for the Economic Injury Disaster Loan (EIDL) program has been extended one year -- to Dec. 31, 2021 – pending the availability of funds.

EIDLs are offered at 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. As we informed you before the holiday break, interest does accrue during the one-year deferment period.

If you’re a small businesses or nonprofit organization struggling as a result of the pandemic and are interested in an EIDL, we encourage you to apply before resources are exhausted.

We’re here to help.


About the author:

Adam Boatsman is the Owner / Visionary at BGW Advisors.

CPA License: NC #34370

Learn more about Adam and the rest of our team on the Team page.

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