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COVID EIDL Program Updates

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COVID EIDL Program Updates Effective September 8, 2021 COVID EIDL policy ChangesThe below policy changes will be publicly shared September 7, 2021and effective September 8, 2021: COVID EIDL policy ChangeImpact1Increase cap from $500K to $2M Exclusivity Period: No approval of loans greater than $500,000 until Oct. 8, 2021Higher loan amounts available2Allow for use of funds to be applied to payment and prepayment of commercial debt and regularly-scheduled payments of federal debtIncrease use of funds flexibility3Allow for 24 months of deferment from loan origination for all loans (existing loans with less than 24-month deferment will be adjusted)SBA automatically defers for 24 months from loan origination4Affiliation requirements simplified: An affiliate is a busi

The below policy changes will be publicly shared September 7, 2021and effective September 8, 2021: COVID EIDL Policy Change. Impact. 1; Increase cap from $500K to $2M ... COVID EIDL Program Updates, Effective September 8, 2021 Created Date: 9/3/2021 2:50:03 PM ...

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