WASHINGTON, D.C. (NMB) – The U.S. Small Business Administration has announced the extension of the deadline to apply for the Economic Injury Disaster Loan program for the COVID-19 pandemic disaster declaration to December 31st, 2021.
This extension is a result of the recent COVID-19 relief bill passed by Congress and approved by President Donald Trump.
To date, the SBA has approved $197 billion in low-interest loans which provides working capital funds to small businesses, non-profits and agricultural businesses.
Loans are offered with 1 3.75% interest rate for small businesses, a 2.75% interest rate for non-profits, a 30-year maturity, and an automatic deferment of one year before monthly payments begin.
Every eligible small business is encouraged to apply and get the resources they need.
For more information, visit SBA.gov.
