Mill Valley Chamber Of Commerce & Visitor Center: SBA Hikes COVID-19 EIDL Program Loan Cap From $500K To $2 Million, Adds Biz Debt Payme ...

Press release from the Mill Valley Chamber of Commerce & Visitor Center:

9/27/2021

The COVID-19 EIDL program runs through Dec. 31 and offers 30-year loans with fixed interest rates of 3.75% for small businesses, including sole proprietors and independent contractors, and 2.75% for not-for-profits. SBA announced major modifications to the COVID-19 Economic Injury Disaster Loans (EIDL) program The following key changes were announced. All are effective immediately: Increasing the COVID-19 EIDL cap from $500,000 to $2 million:  Establishment of a 30-day exclusivity window: Simplification of affiliation requirements: specifically noted

This press release was produced by the Mill Valley Chamber of Commerce & Visitor Center. The views expressed here are the author’s own.