WASHINGTON—The Small Business Administration (SBA) has extended the deadline to apply for the Economic Injury Disaster Loan (EIDL) program to Dec. 31, 2021.
The deadline was extended under the recently enacted Phase 4 coronavirus relief and FY2021 federal government omnibus bill.
To date, the SBA reported it has approved $197 billion in low-interest loans which provides working capital funds to small businesses, non-profits and agricultural businesses as a response to the challenges presented by the coronavirus pandemic.
“Following the President’s declaration of the COVID-19 Pandemic, the SBA has approved over 3.6 million loans through our Economic Injury Disaster Loan program nationwide,” Administrator Jovita Carranza said. “The EIDL program has assisted millions of small businesses, including non-profit organizations, sole proprietors and independent contractors, from a wide array of industries and business sectors, to survive this very difficult economic environment.”
EIDL loan applications will continue to be accepted through December 2021, pending the availability of funds, the agency stated.