On December 30, 2020, the Small Business Administration (SBA) extended the deadline to apply for Economic Injury Disaster Loans (EIDLs) from December 31, 2020 to December 31, 2021, pending the availability of funds. Administered directly through the SBA, EIDLs provide qualified borrowers with economic relief through long-term 30-year financing with interest rates ranging from 2.75% (not-for profit businesses) to 3.75% (for-profit businesses).
Sax will continue to update you as further details are made available. Reach out to your Sax advisor or email covid19@saxllp.com with questions. For more and on-going information relative to your state and business, visit Sax’s COVID-19 Resource Center.