To require the Administrator of the Small Business Administration to modify the interest rate for eligible loans made to borrowers experiencing short-term financial challenges, and for other purposes.
About This Bill
Committee
Latest Action · April 19, 2023
Referred to the House Committee on Small Business.
EIDL Relief Act
This bill provides temporary relief for certain borrowers of Economic Injury Disaster Loans (EIDL) that were made in response to the COVID-19 emergency. Specifically, for one year, the Small Business Administration must reduce the interest rate and limit the monthly payment due for borrowers of these loans experiencing short-term financial challenges.
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