Barbara Weltman

Big Ideas for Small Business, Inc.

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Additional Deferment for EIDLs

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The SBA announced that COVID-19-related Economic Injury Disaster Loans (EIDLs) approved in calendar years 2020, 2021, and 2022 now have a total deferment of 30 months from the date of the Note. Interest will continue to accrue on the loans during the deferment. Borrowers may make partial or full payments during the deferment period but are not required to. Deferments may result in balloon payments. #IdeaoftheDay