If you are COVID EIDL (economic injury disaster loan) recipient who is falling on hard times, the Small Business Administration (SBA) has created a hardship accommodation plan to help you out if you qualify. The plan lets you reduce your payments for up to 6 months.
There are two categories: a) up to and equal to $200,000 and over $200,000. If you’re under $200,000 then you would see the red hardship accommodation plan button on the right side of your Capital Access Financial System (CAFS) profile.
If your COVID EIDL loan is greater than $200,000, email the SBA at [email protected] to inquiring further.
Remember – the COVID EIDL is not the Paycheck Protection Program (PPP) loan. The PPP loan was eligible for forgiveness. The COVID EIDL is not eligible for forgiveness.
Click here for more information about the SBA COVID EIDL hardship accommodation plan.
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Oh my gosh thank you for this article! I followed the link and within 10 minutes I was enrolled in the hardship accommodation and was able to make my payment, which I couldn’t afford to do before I was enrolled. What a weight off my shoulders. Thanks again!