Step by step Instructions to demand an Expansion on your EIDL Loan

If you’ve received an Economic Injury Disaster Loan from the Small Business Administration you might be eligible for more money. SBA lifted the cap on EIDL loans up to $2 million, from $500,000, on Sept. 8. The EIDL loans for businesses impacted by COVID-19 offer 30-year maturities and interest rates ranging from 2.75% to 3.75%. The SBA has also expanded what it considers a small business, Inc. reports. Here’s how to determine your eligibility, what you’ll need to apply, and a timeline for when you might actually see the money hit your account, according to Inc. Request an increase. After …

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