Economic Injury Disaster Loan
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...
AHLA Secures Changes to Hotel Loan Program, Up to $2 Million Per Property
AHLA | August 11, 2021
WASHINGTON – August 11, 2021 – The American Hotel & Lodging Association (AHLA), the Biden Administration and the U.S. Small Business Administration (SBA) collaborated over the last several months to expand and improve the SBA’s Economic Injury Disaster Loan (EIDL) program for the hotel industry, which was heavily impacted by COVID 19. The ongoing dialogue led to an increase in the cap on total loan amounts and a waiver of affiliation rules to ensure hotels can benefit from long term, low interest rates. AHLA has been working with Biden Administration and SBA officials for months to secure the changes, which would directly bene...
