Some businesses and nonprofits will now have more time to apply for a COVID-19 relief loan.
The Small Business Administration set up the EIDL to help small businesses, agricultural businesses and nonprofits make it through this challenging time.
The deadline to apply for the loan was originally set for the end of 2020 but has now been extended to December 31st of 2021. The federal program still has $193.4 billion available for these loans available.
The SBA said that so far it has approved 3.6 million low-interest loans, totaling $197 billion capital funds for small businesses, non-profits and agricultural businesses.
The SBA said that it will take applications until the end of this year as long as funds are available.
For more details on eligibility or to apply, Click Here.