Interest Accrual – Economic Injury Disaster Loans (EIDL)

While the SBA has deferred payment on disaster loans (including COVID-19 EIDL) it is important to note that interest will continue to accrue on the note balance from day one. Therefore, if you were to pay the note balance before regular payments begin, you would be responsible for the full principle of the note plus all interest that accrued over the deferment period.

If you have any questions regarding the information above, please reach out to us.