Arkansas District Office

u s small business administration



Join an Upcoming EIDL Repayment Webinar


With the COVID Economic Injury Disaster Loan (EIDL) first payment date fast approaching, it is important for borrowers to know and understand the payment process. Join the SBA Arkansas District Office for this information session to provide you with the resources you will need to monitor, repay, and get help with your COVID EIDL Loan.

The following questions will be answered in this webinar:

  • How do I find out when my first payment is due?
  • How and why should I create an account in SBA’s Capital Access Financial System (CAFS)?
  • How do I make payments on my EIDL?
  • How do I identify my COVID EIDL servicing center?
  • Where do I go for help?
  • And much more!


Tuesday, November 15th at 2 pm CT



To view additional upcoming sessions and other events, please view the Arkansas District Office Calendar at



COVID EIDL Loan Information


COVID Economic Injury Disaster Loans provided economic relief to small businesses and nonprofit organizations that were experiencing a temporary loss of revenue resulting from the coronavirus pandemic for over two years. During that time, over 3.9 million loans totaling more than $378 billion were approved across the country. The program ended in May 2022.

  • As of May 6: the SBA was no longer processing COVID-19 EIDL loan increase requests or requests for reconsideration of previously declined loan applications due to a lack of available funding.
  • As of May 16: the COVID-19 EIDL portal closed. Borrowers who need copies of their loan documents can still contact Customer Service at (833) 853-5638. Please allow 3-5 business days to receive your materials.

These loans were used for working capital and normal operating expenses for your business, including rent, utilities, and fixed debt payments. Loan terms included a fixed interest rate of 3.75% for businesses and 2.75% for nonprofits with a 30-year maturity date and no prepayment penalties or fees. Payments were automatically deferred for 30 months from the date of the Note. These loans are not forgivable and must be repaid.


Important Notes:

  • Interest continued to accrue on the loans during the deferment.
  • Partial or full payments were being accepted during the deferment but were not required.
  • Deferments may result in balloon payments.
  • SBA will not be sending monthly SBA Form 1201 payment notices but may send regular payment reminders.


SBA began approving COVID EIDL applications in Spring 2020 – meaning the end of the deferment period for those early loans is rapidly approaching. Business owners should start preparing to make payments. 



Setting Up Payments

Monthly payments of principal and interest will begin at the end of the deferment period and will be paid over the remaining 27+ years. For borrowers that received loan increases, the deferment period begins on the date of the disbursement of the original loan. You may make prepayments at any time without penalty.

The Note can be found in the original loan closing documents. The date of the Note is located at the top right corner of the front page of the Promissory Note:

Promissory Note Header


Account balances, interest amounts and payment due dates are accessible in the SBA Capital Access Financial System. For the most up to date information regarding your SBA COVID EIDL loan, please create and/or login to your CAFS account.

To check account balances and payment due dates:



Payment Options


There are several options to make a payment to SBA.

  • Make an online payment at (PREFERRED)
  • Use online bill pay through your personal banking account
  • Mail your payment


View instructions in more detail: Make a payment to SBA



Servicing Your Loan


Borrowers should review their loan authorization to ensure all terms are being followed. For loans above $25,000, SBA filed a lien on the business assets. If a business owner wants to sell a piece of equipment or the business itself, SBA will need to approve the release of its lien. In some cases, this may require a cash payment to reduce the loan balance.

These requests are approved by one of SBA’s disaster loan centers and borrowers should be prepared to make their request well in-advance of the actual sale. EIDL borrowers in Arkansas should contact:

El Paso Loan Servicing Center

1545 Hawkins Blvd, Suite 202
El Paso, TX 79925-2652


Phone: 800-487-6019


Additional Servicing Resources & Forms: 

Requirements for Disaster Loan Servicing Actions


Need FREE assistance with your business?

Please reach out to one of our local Resource Partners.

For further assistance, please contact

To see all upcoming webinars, please visit:

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All SBA programs and services are extended to the public on a nondiscriminatory basis.

The information contained in this publication does not constitute an official endorsement or approval by the U.S. Small Business Administration.