• The Small Business Administration is expected to lift the cap on its Covid Economic Injury Disaster Loans (EIDL) sometime after Labor Day on September 6, bringing the low-interest long term loan available to any small businesses struggling amid the pandemic back up to $2 million. 


    The cap was set at $500,000 in March 2021, after the SBA spent several months approving only loans of up to $150,000. Traditionally, the EIDL loan program--which has a 30-year maturity date--has a $2 million cap and loan interest terms that range from 2.75 percent for nonprofits to 3.75 percent for businesses. Read More...

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