COVID EIDL Hardship Accommodation Plan

Due to the continued adverse effects of the pandemic, SBA provided a deferment period of 30 months from the date on the original Note for COVID-19 EIDL borrowers. Interest continued to accrue on the loans during deferment. EIDL payments are due now and some borrowers are still struggling with the effects of the pandemic. The SBA offers temporary relief.

Hardship Accommodation Plan

SBA is offering a Hardship Accommodation Plan for borrowers experiencing short-term financial challenges. Borrowers eligible for this plan may make reduced payments for six months. Interest will continue to accrue, which may increase (or create) a balloon payment due at the end of the loan term.

Terms

• Borrowers are required to pay at least 10% of their monthly payment amount (with a $25 minimum), for six months. 
• During the Hardship Accommodation period, borrowers can voluntarily make larger payments.
• The regular monthly payment amount will resume and be required after the six-month Hardship Accommodation period ends. Borrowers may be able to renew the Hardship Accommodation Plan, if necessary.

Eligibility & Enrollment

Borrowers are eligible to enroll in the Hardship Accommodation Plan beginning 60 calendar days before their first payment due date. 

• If your loan amount is less than or equal to $200,000: To enroll in the Hardship Accommodation Plan, create a CAFS account or log in to your existing account. Within CAFS, hover over “Borrower” and select “Borrower Search.” Select the appropriate loan number and request the Hardship Accommodation on the Loan Info page.
• If your loan amount exceeds $200,000: To apply, contact the COVID-19 EIDL Servicing Center at 833-853-5638 or disastercustomerservice@sba.gov (and include “Hardship Accommodation Plan” in the subject line). You will be contacted by a loan specialist regarding requirements.

Find more helpful information about managing your COVID-19 EIDL Loan on the SBA website.