Requesting EIDL Increases
Businesses that have already received the Economic Injury Disaster Loan do not need to submit a request for an increase at this time. SBA will reach out directly via email and provide more details about how businesses can request an increase closer to the April 6 implementation date.
New and Pending EIDL Applications
Any new loan applications and any loans in the process when the new loan limits are implemented will automatically be considered for loans covering 24 months of economic injury up to a maximum of $500,000.
EIDL Deferment Update
The SBA announced on March 12, 2021, extended deferment periods for all disaster loans until 2022. SBA will extend the first payment due date for disaster loans made in 2020 to 24-months from the date of the note and to 18-months from the date of the note for all loans made in the calendar year 2021.