SBA Announces New EIDL Enhancements Including More Funds and More Flexibility

Recently, the US Small Business Administration (SBA) announced new flexibilities and enhancements for the COVID-19 Economic Injury Disaster Loans (EIDL) program. The COVID-19 EIDL program provides 30-year loans with fixed interest rates of 3.75% for eligible businesses.

The National Restaurant Association has been working with the SBA to make improvements to EIDL.
These improvements include:

• Larger loan amounts, from $500,000 to $2 million
• More flexibility with EIDL funds, including the ability to pay off private commercial loans or credit card debt with EIDL funds
• Updated affiliation standards

​The National Restaurant Association is hosting a webinar with the SBA on the EIDL enhancements on September 15th at 1:00 pm (CT).

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Register for Webinar