SBA Gives EIDL Borrowers One Extra Year to Repay
The Small Business Administration
“Small Businesses, private nonprofits and agricultural enterprises, including those self-employed individuals, contractors and gig workers, continue to navigate a very difficult economic environment due to the continued impacts of the Coronavirus COVID-19 pandemic, as well as historic Severe Winter Storms in 2020,” SBA Administrator Tami Perrillo said.
As of February, the SBA had approved over $200 billion in emergency loans. Generally, the SBA approved roughly $500 million in loans per week.