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SBA Extends COVID-19 Economic Injury Disaster Loan Application Deadline through December 2021

by | Dec 31, 2020 | COVID-19, Finance, Government, News, Small Business

Photo 180202875 © Volodymyr MelnykDreamstime.com

The US Small Business Administration announced that the deadline to apply for the Economic Injury Disaster Loan (EIDL) program for the COVID-19 Pandemic disaster declaration is extended to December 31, 2021. 

The deadline extension comes as a result of the recent bipartisan COVID-19 relief bill passed by Congress and enacted by President Trump on December 27, 2020.

To date, the SBA has approved $197 billion in low-interest loans which provides working capital funds to help small businesses, nonprofits, and agricultural businesses make it through this challenging time. 

“Following the President’s declaration of the COVID-19 Pandemic, the SBA has approved over 3.6 million loans through our Economic Injury Disaster Loan program nationwide,” Administrator Jovita Carranza says.

“The EIDL program has assisted millions of small businesses, including nonprofit organizations, sole proprietors, and independent contractors, from a wide array of industries and business sectors, to survive this very difficult economic environment.”

EIDL loan applications will continue to be accepted through December 2021, pending the availability of funds. Every eligible small business and nonprofit is encouraged to apply to get the resources they need.

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