SBA Opens Up Fifth COVID EIDL Hardship Accommodation Plan Enrollment

The U.S. Small Business Administration has opened up a 5th COVID EIDL (economic injury disaster loan) hardship accommodation plan enrollment for troubled borrowers. If you’re still fretting about making payments, check it out.

The fifth hardship accommodation plan will still be at 75% of the total monthly payment. You would still get 6 months under the plan.

This hardship accommodation plan

Borrowers are eligible to enroll in the HAP beginning 60 calendar days before their first payment due date.

Per the US Small Business Administration, the Hardship Accommodation Plan (HAP) allows borrowers to make reduced monthly payments for a 6-month period. With the first enrollment, payments will be 10% of the regular monthly payment, with a $25 minimum.

Borrowers who make all payments on time during the first 6-month enrollment will be eligible to re-enroll. If on-time payments continue, borrowers can re-enroll up to four more times with the following…