Small Business Administration Ends Hardship Plan for COVID Economic Injury Disaster Loans

As of March 19, the federal Small Business Administration (SBA) has ended its Hardship Accommodation Plan (HAP) for COVID-19 Economic Injury Disaster Loans (EIDL). Those seeking the one-time-only option will need to provide a written explanation of a temporary financial hardship. For more information, contact the SBA COVID EIDL Customer Service Center by email at CovidEIDLServicing@sba.gov or by phone at 1-833-853-5638.

Learn More

The program allowed EIDL holders to pay just 10 percent of their typical monthly payment - for example, a monthly loan of $10,000 would only be $1,000 - to provide near-term financial relief. The aim of the program was to help small businesses amid the pandemic’s financial challenges.

A 2023 survey conducted by CIVITAS in partnership with NAFCC found that 51% of surveyed family care providers had an EIDL. 

A blog post on CIVITAS Strategies’ website noted that the SBA had sent an email about a new, one-time-only six-month payment assistance option for certain borrowers. Eligibility criteria for that option includes:

• Never having enrolled in HAP

• Being less than 120 days past due

• Not being in charged-off status

The CIVITAS Strategies blog post noted that this option could not be confirmed on the SBA website.