AHLA Applauds Enhancements to Loan Program for Hoteliers

AHLA | September 10, 2021

WASHINGTON – September 10, 2021 – The White House yesterday announced the expanded COVID-19 Economic Injury Disaster Loan (EIDL) program, giving qualified hoteliers access to up to $2 million per loan. The American Hotel & Lodging Association (AHLA) has been working with Biden Administration and Small Business Administration officials for months to secure EIDL changes that would benefit hoteliers. Changes announced yesterday include: Raising the loan cap to $2 million per loan Raising the aggregate loan cap to $10 million Simplifying the affiliation rules Allowing 24 months of deferred payment Allowing use of fun...