SBA Has A COVID EIDL Hardship Accommodation Plan for Borrowers

If you are COVID EIDL (economic injury disaster loan) recipient who is falling on hard times, the Small Business Administration (SBA) has created a hardship accommodation plan to help you out if you qualify. The plan lets you reduce your payments for up to 6 months.

There are two categories: a) up to and equal to $200,000 and over $200,000. If you’re under $200,000 then you would see the red hardship accommodation plan button on the right side of your Capital Access Financial System (CAFS) profile.

If your COVID EIDL loan is greater than $200,000, email the SBA at disastercustomerservice@sba.gov to inquiring further.

Remember — the COVID EIDL is not the Paycheck Protection Program (PPP) loan. The PPP loan was eligible for forgiveness. The COVID EIDL is not eligible for forgiveness.

Click here for more information about the SBA COVID EIDL hardship accommodation plan.

Originally published at https://carlarjenkins.com on November 27, 2022.