- Avoid Treasury Collection Terms – Once sent to Treasury collections, loans face 10-year repayment at 3.75% interest plus 28% in fees. Seeking SBA reinstatement or hardship plans is a better option.
- Enroll in SBA’s Hardship Accommodation Plan – Struggling borrowers can temporarily reduce payments by 90% for six months, with renewals possible.
- Submit a Hardship Claim for Extended Relief – Eligible businesses can reduce payments to as low as $25 for up to 24 months by submitting the SBA’s EIDL Hardship Accommodation Form.
Register for a new account in the MySBA Loan Portal
- Please note, the COVID-19 EIDL application portal (also known as the "RAPID portal") is closed. Your RAPID portal username and password cannot be used to log in to the MySBA Loan Portal.
- Find your loan number
If you have not created an account, you can find your loan number on the top left corner of the Note and the Loan Authorization and Agreement. It is NOT the same as your application number.
If you need assistance finding your loan number:
- For COVID-19 EIDL, contact COVID-19 EIDL Customer Service at 833-853-5638 (TTY:711) from 8:00 a.m. to 8:00 p.m. ET, Monday through Friday, or email COVIDEIDLServicing@sba.gov.
In this Blog
Written By
Matthew Elling
August 20, 2024