The US Small Business Administration has extended the deferment period for COVID-19 Economic Injury Disaster Loan (EIDL) payments for the third time in 12 months. In a news release, the SBA said that small businesses and not-for-profits that received EIDL funds do not have to begin payments on the loan until 30 months after the
EIDL Payments May Be Deferred Until 2022
The SBA announced extended deferral periods for all of its disaster loans, including the COVID EIDL loans. Most small businesses that received an EIDL won’t have to start making payments on the loan until 2022. The deferral details differ depending on the calendar year the disaster loan was made: For all SBA disaster loans made
