According to this documentation produced by the SBA, the EIDL (Economic Injury Disaster Loan) application window will be closing 12/21/2020.
Kristen was able to apply for one today, and we have heard elsewhere that it will remain open until 12/31/2020, although we have found no written proof of that.
If you have not applied, or been denied, for the EIDL this year, we suggest taking a moment to determine if you could use the funds.
Some quick details about the loan:
30 year loan from the SBA
3.75% interest for businesses, and 2.75% interest for non-profits
1st payment isn’t due until 12 months after the initial date of the loan
They are generally granting 6 months of Operating Costs (no promises)
Your operating costs would be 2019 Revenue minus COGS divided by 2.
Contact us today if you’d like to try and apply for the EIDL before this window closes.
—-BKI (Kristen)