On March 15, the Small Business Administration announced a deferment extension for future payments on COVID-related Economic Injury Disaster Loans (EIDL). This deferment extension of up to 30 months is effective for all EIDLs approved in 2020, 2021 and 2022. Before this announcement, the deferment allowance was 24 months from the original loan's closing date.
Restaurants should be aware that:
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