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Extension of COVID-19 EIDL Loan Deferment for Small Businesses

This bill aims to extend the deferment period for Economic Injury Disaster Loans (EIDL) taken out in response to the COVID-19 pandemic. This means small businesses that received these loans will have more time before they need to start repaying principal and interest, potentially helping them maintain financial liquidity during a challenging period.
Key points
COVID-19 EIDL loan payment suspension is extended from 1 year to 2 years.
Businesses will not have to repay principal or interest for two years from the loan's origination date.
This change provides small businesses with more time to recover and stabilize financially.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_HR_1533
Sponsor: Rep. Salazar, Maria Elvira [R-FL-27]
Process start date: 2021-03-03
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

COVID Economic Injury Disaster Loan Relief Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1533.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-03.

What are the main provisions?

Key points include:

  • COVID-19 EIDL loan payment suspension is extended from 1 year to 2 years.
  • Businesses will not have to repay principal or interest for two years from the loan's origination date.
  • This change provides small businesses with more time to recover and stabilize financially.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Salazar, Maria Elvira [R-FL-27].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Small Business.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy