How the SBA’s payment assistance program works for COVID EIDL borrowers.
Eligible borrowers can reduce their payments by 50% for six months. This page explains how it works, who qualifies, and what to expect — built from publicly available SBA guidance.
This page summarizes publicly available SBA program information for borrowers researching their options. SmallBiz Recon™ does not administer the SBA Payment Assistance program, is not affiliated with the SBA or U.S. Treasury, and cannot grant approvals or extensions. Apply directly through the SBA Loan Portal. Sources: SBA SOP 50 52 (2) and SBA Policy Notice 5000-857729 (8/5/2024).
You may qualify if all of these are true.
The SBA Loan Portal will deny applications that fail the hard cutoffs. The fifth criterion — that your hardship be temporary — is interpretive; you describe your situation in your own words.
The hardship narrative is the part where you describe your situation in your own words. Free SBA-funded counseling through SCORE, your local SBDC, Women’s Business Centers, or Veterans Business Outreach Centers can help you organize your thoughts before you submit. For legal questions specific to your situation, consult a licensed attorney in your jurisdiction.
Six things every borrower should also know.
Free or low-cost SBA counseling, separately from this program.
SBA Resource Partners help review your business plan, identify opportunities to access capital, and provide tax-benefit information. SmallBiz Recon™ does not provide counseling — these are independent organizations funded in part by the SBA.
Scope of service and legal disclaimer
SmallBiz Recon™ is a DBA of Recon11 Global Systems, LLC. SmallBiz Recon™ is an independent educational and document-packaging service. We are not affiliated with, endorsed by, or connected to the U.S. Small Business Administration, the U.S. Department of the Treasury, Coast Professional, the CBE Group, or any other government agency or contractor.
SmallBiz Recon™ is not a law firm. We do not provide legal advice or legal opinions, do not represent clients in legal proceedings, do not draft court filings, do not interpret law for any specific client circumstance, and do not negotiate on behalf of clients with federal agencies. Our service is administrative document packaging and process navigation under SBA SOP 50 52 2 and current COVID EIDL servicing guidance.
For legal questions about your specific situation, consult a licensed attorney in your jurisdiction. Always verify policy specifics against the official source before relying on them.