Mar 26 SBA TO INCREASE ECONOMIC INJURY DISASTER LOAN LIMITS
Beginning with the week of April 6, 2021, the Small Business Administration (SBA) will increase the amounts for-profit and non-profit entities can borrow under the Economic Injury Disaster Loan (EIDL) Program. Maximum loan amounts will expand from $150,000 to $500,000. The SBA will reach out to impacted borrowers via e-mail with guidance on how current borrowers can request an increase around the implementation date.
As a reminder, the SBA has extended the payment deferment period on EIDLs as follows:
- 2020 EIDLs: 24 months from the date of the note
- 2021 EIDLs: 18 months from the date of the note 
Sax will continue to update you as further details are made available. Reach out to your Sax advisor or email [email protected] with questions. For more and on-going information relative to your state and business, visit Sax’s COVID-19 Resource Center.
 Interest accrues during the deferment period