Deadline to Request SBA EIDL Loan Increase or Reconsideration is May 6
The deadline to request a U.S. Small Business Administration (SBA) Economic Injury Disaster Loan (EIDL) loan increase or reconsideration is Friday, May 6. This is for existing borrowers or those who have previously submitted an application and would like to make a request for reconsideration.
As of Jan. 1, the SBA is not able to accept applications for new COVID-19 EIDL loans or advances.
The COVID-19 EIDL portal (also known as the “RAPID portal”) will close on May 16. Borrowers should download their loan documents from the portal (under the section titled, “Notice: Important Deadlines”) prior to this date.
COVID-19 EIDL loans are offered at very affordable terms, with a 3.75% interest rate for small businesses and 2.75% interest rate for nonprofit organizations, and a 30-year maturity. The maximum loan amount is $2 million. The SBA began approving loans greater than $500,000 on Oct. 8, 2021.
In March, the SBA provided an additional deferment of principal and interest payments for existing COVID EIDL borrowers for a total of 30 months deferment from inception on all approved COVID EIDL loans. Interest continues to accrue during the deferment period and borrowers may make full or partial payments if they choose.
Latest from NAHBNow
Advocacy
Oct 31, 2025
NAHB's Monthly Update Features Talking Points on Legislative PrioritiesThe update provides the latest messaging framework to help members articulate housing priorities and latest news related to the recent legislative proposals and the government shutdown.
Membership
Oct 31, 2025
HBA Staff Appreciation Week Kicks OffFrom Nov. 3-7, NAHB will celebrate HBA Staff Appreciation Week, an annual event that recognizes the individuals who serve the more than 650 home builders associations that make up NAHB.
Latest Economic News
Economics
Oct 30, 2025
Which Local Markets Track National Trends the Most: 2024 Single-Family MAIThe National Association of Home Builders developed the Single-Family Market Association Index (MAI) to measure how closely single-family building permits in metro areas follow national patterns. By comparing local and national trends, the MAI helps industry leaders and forecasters better understand and predict housing market activity.
Economics
Oct 29, 2025
The Fed Cuts amid Partly Cloudy ConditionsWith the government shutdown limiting the quantity of economic data available to markets and policymakers, the central bank’s Federal Open Market Committee (FOMC) enacted a widely anticipated 25 basis point cut for the short-term federal funds rate.
Economics
Oct 28, 2025
Home Price Growth SlowsHome prices in August grew at the lowest annual rate in over two years, according to the recent release of the S&P Cotality Case-Shiller Home Price Index (seasonally adjusted – SA).