Source: INC, 9/8/21


On Tuesday, the SBA published an interim final rule which took immediate effect. The SBA is expanding access to its Economic Injury Disaster Loan (EIDL) program, low-interest loans for businesses and nonprofits damaged by the pandemic, to certain businesses--like restaurants with up to 20 locations, provided each location has no more than 500 employees. With more than $100 billion left in lending authority, and other aid programs out of commission, the agency expects demand for EIDLs to surge. The Covid EIDL is set to expire at the end of the year, or until funds run out.

For more of this story, click here.