At $200 billion, the COVID-19 Economic Injury Disaster Loan (EIDL) program has reached a noteworthy milestone. According to the Small Business Administration (SBA), to date, the EIDL program has provided U.S. small businesses, non-profits, and agricultural businesses this impressive sum. And the SBA says it is not done giving out the loans.
To that end, the SBA announced the extension of EIDL to December 31, 2021. The extension is part of the bipartisan COVID-19 relief bill passed by Congress and enacted by President Trump on Dec. 27, 2020. This means EIDL loan program will continue to accept applications through December 2021. And of course, it will depend on the availability of funds for the program.