Updated on 10/20/20201
SBA Enhancements to the COVID-19 EIDL Program
The Small Business Administration (SBA) has announced some changes to the COVID-19 EIDL (Emergency Injury Disaster Loan) Program. These enhancements include an increase in the EIDL cap, which expenses the loan funds can be applied towards, and an extended repayment period. Read this article from Taft to learn more details about these, and other, COVID-19 EIDL Program developments.
The Small Business Administration currently offers Economic Injury Disaster Loans (EIDL). These loans may be helpful to small nonprofits during the COVID-19 outbreak. They may be applied for in addition to the Paycheck Protection Loans available under the CARES Act.
Loans Available under the SBA’s Economic Injury Disaster Loan Program