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Increased loan cap to $2 million, expanded use of funds to pay and prepay business debt, streamlined review processes and deferred payments; first approval and disbursement of loans of $500,000 or less also introduced.
From U.S. Small Business Administration
WASHINGTON — U.S. Small Business Administration Administrator Isabella Casillas Guzman announced last week major enhancements to the COVID Economic Injury Disaster Loan program, a federal disaster relief loan designed to better serve and support our small business communities still reeling from the pandemic, especially hard-hit sectors such as restaurants, gyms, and hotels.
SBA announced it was ready to receive new applications immediately from small businesses looking to take advantage of the new policy changes.
“SBA’s COVID Economic Injury Disaster Loa...
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