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(866) 296-3304


EIDL HARDSHIP ACCOMMODATION PLAN

The Small Business Administration (SBA) Economic Injury Disaster Loan (EIDL)
program has been a lifeline for many small businesses during the COVID-19
pandemic.

However, some businesses are finding it difficult to repay their loans due to
the ongoing financial impact of the pandemic. In response, the SBA has
implemented a hardship accommodation plan to provide additional support to
struggling businesses. Business Loan Advocates is a leading consulting firm that
specializes in helping businesses navigate the complex world of government
programs and grants. In this article, we will discuss the SBA EIDL hardship
accommodation plan and how Business Loan Advocates can help businesses apply for
it.


WHAT IS THE SBA EIDL HARDSHIP ACCOMMODATION PLAN?

The SBA EIDL hardship accommodation plan is a program that allows businesses
that are experiencing financial hardship due to the COVID-19 pandemic to modify
the terms of their EIDL loans. The program offers several options to make loan
repayment more manageable, including:

1. Extending the loan term: The SBA may extend the loan term for up to 30 years,
which can reduce the monthly payment amount and make it easier for businesses to
repay their loan.



2. Interest-only payments: Businesses may be eligible for a period of
interest-only payments, which can reduce the monthly payment amount and provide
businesses with some relief as they work to recover from the pandemic.



3. Deferral of payments: Businesses may be eligible for a deferral of payments
for up to one year, which can provide some breathing room as businesses work to
recover from the pandemic.



4. Reduction of Balance: Offer and compromise. Businesses may be eligible for a
deferral of payments for up to one year, which can provide some breathing room
as businesses work to recover from the pandemic.


Our Services


HOW CAN BUSINESS LOAN ADVOCATES HELP BUSINESSES APPLY FOR THE SBA EIDL HARDSHIP
ACCOMMODATION PLAN?

Applying for the SBA EIDL hardship accommodation plan can be a complex and
time-consuming process, especially for businesses that are already struggling to
keep their doors open. That's where Business Loan Advocates comes in. Our team
understands the ins and outs of the SBA EIDL program and can help businesses
navigate the application process for the hardship accommodation plan.


WE CAN ASSIST BUSINESSES WITH:

1. Document preparation: We can help businesses gather and organize the
necessary documents, such as financial statements, tax returns, and loan
documents, to support their application.



2. Application submissions: We can help businesses submit their application to
the SBA and ensure that all required information is included.



3. Follow-up and communication: We can help businesses communicate with the SBA
throughout the application process, including following up on any additional
information or documentation that may be needed.


SBA EIDL

+ Learn More


SBA EIDL FAQ

+ Learn More



Our team of professionals will work effectively on your behalf to help you
succeed in the approval process.  Our success fee will be charged once you
receive approval.  

Contact

 * We are not affiliated with the SBA.  Business Loan Advocates is a 3rd party
   consulting company. We do not charge upfront fees. We are only compensated
   via a success fee once you are approved.

© 2024 by Business Loan Advocates

Business Loan Advocates is not a lender, and is not in the business of providing
legal or tax advice. We are a legal document processing company offering a
service to assist businesses access the EIDL funding. Nothing on our website
should be interpreted to mean that Business Loan Advocates can or will (i)
determine your eligibility or ineligibility for EIDL, (ii) check the accuracy,
completeness, or lawfulness of your EIDL loan application, (iii) help you skip
legally required steps, (iv) accelerate your application with the SBA, or (v)
increase your chances of receiving funding. Business Loan Advocates does charge
a success fee paid by the business once funding has been received. You can
choose to apply for free directly through the SBA. If you would like more detail
on EIDL options or program details, please visit sba.gov


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