Applicants have until December 2021 to apply for the Economic Injury Disaster Loan (EIDL) program for the COVID-19 Pandemic disaster. The deadline extension (to Dec. 31, 2021) came as a result of the recent bipartisan COVID-19 relief bill passed by Congress and enacted by President Trump this past December.
EIDL loan applications will continue to be accepted through December 2021, pending the availability of funds. Loans are offered at very affordable terms, with a 3.75% interest rate for small businesses and 2.75% interest rate for non-profit organizations, a 30-year maturity, and an automatic deferment of one year before monthly payments begin. Every eligible small business and non-profit are encouraged to apply to get the resources they need.