This is a petition for EIDL Loan interest forgiveness and total 36 months of deferment. Please sign to help show your support in this effort. 

     During the Covid 19 pandemic, millions of small businesses were forced to make the critical decision of taking on an SBA Covid 19 EIDL loan or face losing everything they had worked their whole lives for. In those uncertain and even fearful times, many businesses that did not receive the loans were forced to shut down completely. Many of those fortunate enough to have obtained a loan are still struggling to survive in the current state of today's economic hardships. With supply chain issues, high fuel prices and other inflationary COGS, they are still in need of more relief. 

     The EIDL loan was a blessing for many small businesses to receive. It had low-interest rates and the eligibility requirements made it easier for small businesses that normally wouldn't be able to obtain a loan from a local bank to have access to funding. However, payments are coming due as it nears 30 months of prior deferment. This blessing could become a curse to many small businesses if those payments are not deferred for at least 36 months, instead of the 30 it now sits at. Payments on top of these other economic crises right now would be devastating to many businesses.

     Small business owners are resilient, honest and hard-working people who continue to strive every day to keep their doors open, their staff employed and bring new intuitive products and services to their communities and the markets every day. 

     This petition is asking for legislative action to be taken that will relieve the small business owners of any interest of 3.75% or less and forgive those added rates. Also, it is requesting that deferment extend to a total of 36 months to allow small businesses that have taken on this debt to prepare.

                                                   Thank you All : Respectfully submitted

                                                                            speaknsee