Is Your Company Struggling with Economic Injury Disaster Loan Debts?

During the COVID-19 pandemic, many small businesses relied on the US Small Business Administration’s COVID-19 Economic Injury Disaster Loan (EIDL) program, which provided $380 billion in loans. However, firms with outstanding EIDL loans now face higher debt levels and financial challenges compared to those without such loans, according to the Federal Reserve's 2023 Small Business Credit Survey.

While the report notes the bulk of companies holding debt were in leisure and hospitality, SEWN has encountered manufacturers still feeling the effects. If your company needs some guidance in navigating that EIDL storm, reach out to us for a no-obligation consultation to get your company on the right path.