Small Business Funding

Small Business Administration extends deadline to apply for a EIDL Loan

The SBA has funded small businesses throughout the Covid19 pandemic and continues to do so. The EIDL Advance loans are no longer available. However, if you are still struggling and need quick financial assistance, the SBA Economic Injury Disaster Loans could be what your business needs. The first year payments are deferred and the interest rates are pretty low. The term of the loan may vary depending on a number of factors.

So, how do I apply for a EIDL loan? You can apply on their website directly. You don’t need to go to a third party or bank. Wait times to hear back from the Small Business Administration can be lengthy but be patient they will get to you. Assuming funding doesn’t dry up! You can use funds for general business operations and working capital. These loans are different from the PPP loans known also as the Paycheck Protection Program.

It has been a tough year for many of us, but let’s be thankful we have resources like the SBA to help many small businesses stay in business.

Filing 2021 Tax Season will start soon are you ready to file come January 27th? Businesses can file their returns starting today January 7th 2021.