The U.S. Small Business Administration (SBA) recently announced an additional deferment period of principal and interest payments for existing COVID-19 Economic Injury Disaster Loans (EIDL). Borrowers have a total of 30 months of deferment period from loan origination on all COVID EIDL loans. This is a change from the previous deferral period of 24 months.

Below you will find some additional information about the new deferment period on EIDL loans:

  • This deferment period is effective for all COVID EIDL loans originated in 2020, 2021 and 2022.
  • Please note that interest will continue to accrue during the deferment period.
  • Borrowers can continue to make partial or full payments during the 30-month deferment period, but are not required to do so.
  • The SBA is now recommending that borrowers use www.pay.gov to make their payments.
  • The SBA is not sending monthly SBA Form 1201 payment notices. However, the SBA will send regular payment reminders via email.
The 95th Street Beverly Hills Business Association’s programs and services are made possible through our partnership with the following organizations:

Address

2100 West 95th Street
Chicago, IL 60643

Call Us

Phone: 773-415-8778

95th Street Business Association © 2024 All Rights Reserved. | Developed By The Argus Internet Company