The U.S. Small Business Administration(link is external) has announced that the deadline to apply for the Economic Injury Disaster Loan (EIDL)(link is external) program for the COVID-19 Pandemic disaster declaration is extended to December 31, 2021.  The deadline extension comes as a result of the recent bipartisan COVID-19 relief bill passed by Congress and enacted by President Trump on December 27, 2020.

To date, the SBA has approved $197 billion in low-interest loans which provides working capital funds to small businesses, non-profits and agricultural businesses make it through this challenging time.

“Following the President’s declaration of the COVID-19 Pandemic, the SBA has approved over 3.6 million loans through our Economic Injury Disaster Loan program nationwide,” Administrator Jovita Carranza said. “The EIDL program has assisted millions of small businesses, including non-profit organizations, sole proprietors and independent contractors, from a wide array of industries and business sectors, to survive this very difficult economic environment.”

EIDL loan applications will continue to be accepted through December 2021, pending the availability of funds. Loans are offered at very affordable terms, with a 3.75% interest rate for small businesses and 2.75% interest rate for nonprofit organizations, a 30-year maturity, and an automatic deferment of one year before monthly payments begin. Every eligible small business and nonprofit are encouraged to apply(link is external) to get the resources they need.

PPP Forgiveness Webinars Tuesdays & Wednesdays.

The SBA Vermont District Office hosts free webinars Tuesdays and Wednesdays about Paycheck Protection Program forgiveness. Topics include criteria, the process, changes and more.

PPP Forgiveness Webinars Tuesdays

11:30 a.m. to 1 p.m.

Click here(link is external) to access the webinar link.

To access by phone, call 202-765-1264 and enter code 986 011 495#.

PPP Forgiveness Webinars Wednesdays

9 a.m. to 10:30 a.m.

Click here(link is external) to access the webinar link.

To access by phone, call 202-765-1264 and enter code 984 055 02#.

For more information, email susan.mazza@sba.gov(link sends e-mail).

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