Due to the continued adverse effects of the pandemic, the SBA has provided a deferment period of 30 months from the date on the original Note for COVID-19 EIDL borrowers. This deferment does not apply to non-COVID disaster home and business loans and is effective for all COVID-19 EIDL loans approved in calendar years 2020, 2021, and 2022. Interest will continue to accrue on the loans during deferment.
For more detailed information about eligibility and how deferment impacts your future loan payment amounts, refer to SBA procedural notice 5000-830558 dated March 15, 2022.
Note: The 30-month COVID-19 EIDL deferment period will not be extended. COVID-19 EIDL loans are not forgivable.