Understanding your EIDL Repayment
Many of our clients were the recipients of Economic Injury Disaster Loans (EIDL) related to the COVID pandemic. Unlike the smaller EIDG (grants) and forgivable PPP Loans, these loans accumulate interest at 3.75% per year and must be repaid over a 30-year term. There is an initial deferment period during which payments are not required, …