Economic Injury Disaster Loan (EIDL) – Application Deadline Approaching
By Diane Giordano, Partner, Tax & Business Services
This is a reminder that the deadline to apply for the COVID Economic Injury Disaster Loan (EIDL) is December 31, 2021.
EIDL loan applications will be accepted until December 31 and will continue to be processed after this date until funds are exhausted.
Borrowers can request increases of the eligible loan amount for up to two years after the loan origination date, or until the funds are exhausted, whichever comes sooner.
The Small Business Administration (SBA) will accept and review applications for reconsideration and appeal requests for COVID EIDL funds received on or before December 31 if the application is received within six months of the date of decline for reconsiderations and 30 days of the date of reconsideration decline – unless funding is no longer available.
More information about EIDL loans can be found at https://www.sba.gov/funding-programs/loans/covid-19-relief-options/eidl.
Your Marcum tax advisor can provide information about this program or your eligibility.