Breaking News: 3 BIG Announcements Regarding SBA COVID EIDL Loans

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The Small Business Administration has just sent me an email that has 3 big announcements regarding COVID Economic Injury Disaster Loans:

– The COVID EIDL portal closes May 16, 2022

– All EIDL loan increases must be made by May 6, 2022

-EIDL loan repayments start 30 months from first disburseme

This means that you must download all of your EIDL documents and screenshot all of your correspondence before May 16, 2022. Furthermore, if you do receive an EIDL loan increase then you will need to sign and approve it before May 16, 2022 since the COVID EIDL portal is closing. For more information, click this SBA COVID EIDL link: https://www.sba.gov/funding-programs/loans/covid-19-relief-options/eidl

 

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