Key Changes to the COVID-19 Economic Injury Disaster Loans Program


On September 8, 2021, the U.S. Small Business Administration (SBA) announced following key changes to the COVID-19 Economic Injury Disaster Loans (EIDL) program to make it easier for the small business communities to access the more than $150 billion in funding available for loans:

  • Maximum loan cap increased from $500,000 to $2 million
  • Use of funds was expanded to include payment and pre-payment of business non-federal debt incurred at any time (past or future) and payment of federal debt
  • Extend the deferment period to 24 months from origination for all loans (existing loans with a less than 24-month deferment will be adjusted)
  • Affiliation requirements simplified to an affiliate is a business that you control or in which you have 50% of more ownership
  • Developed additional path to meet program size standards for businesses assigned a NAICS code beginning with 61, 71, 72, 213, 3121, 315, 448, 451, 481, 485, 487, 511, 512, 515, 532, or 812
  • Exclusivity Period: From September 8, 2021 to October 8, 2021, the above policy changes will be applicable to applications for <$500K while applications for >$500K will not be approved and therefore receive the policy changes until October 8, 2021
  • See more details on theĀ COVID-19 September 8, 2021 Policy Changes.

Contributed by PHB staff auditor, Binh Ngo



Drew, J. (2021, September 9). SBA quadruples Covid-19 EIDL limit to $2 million. Journal of Accountancy. Retrieved September 13, 2021, from;utm_medium=email&amp;utm_campaign=09Sep2021.

SBA. (2021, September 8). COVID EIDL Program Updates Effective September 8, 2021. Retrieved from