SBA Lifts COVID EIDL cap from $500,000 to $2 Million

SBA Administrator Isabella Casillas Guzman announced major enhancements to the COVID Economic Injury Disaster Loan (EIDL) program, including increasing the cap to $2 million.

SFNet has been drawing attention to misuses of the EIDL program that unfairly impact secured lenders, create challenges for borrowers and put tax payer dollars unnecessarily at risk. SFNet has submitted letters to the SBA (see most recent letter here) and has met with both SBA officials and legislators concerning this matter. We will continue to advocate for the best outcome for the SFNet community.

Please contact Michele Ocejo mocejo@sfnet.com for more information on SFNet actions on this issue.