SBA disaster loan program extended till Dec. 31, 2021

The U.S. Small Business Administration has extended the application deadline for the Economic Injury Disaster Loan (EIDL) program through Dec. 31, 2021 following the enactment of the new Covid-19 relief signed into law by President Trump on Dec. 27.

The SBA's EIDL Program provides small businesses (500 employees or less) and nonprofits with low-interest loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing due to Covid-19.

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.