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
