AHLA Hotel Lobby Live: SBA Launches Improved EIDL Programs for Hotels

• VIEW THE RECORDED WEBINAR BELOW
• DOWNLOAD EIDL CHANGES BRIEF AND RESOURCES

AHLA has been working with closely with the Small Business Administration (SBA) to expand and improve the Economic Injury Disaster Loan (EIDL) program by raising the cap on total loan amounts and waiving affiliation rules to ensure each property can benefit from the long term, low interest rate loans that are available.This program can be a critical opportunity to access capital to help address commercial debt, operating costs, and other expenses that your businesses are incurring as the industry continues to experience an uneven recovery. The application period begins on August 16th. 
 
During this webinar, an SBA representative will cover critical program updates including how struggling hotels can qualify for and apply for these loans. Among many changes, we understand the program will include the following revisions:  
•    Up to $2 million per property
•    Up to $10 million in aggregate
•    Waiver of affiliation rules (mirrors PPP)
•    A 3.75% interest rate over a 30-year fixed amortization period 
•    Waiver of the credit-elsewhere requirement
•    Priority for NAICS Code 72 businesses