Economic Injury Disaster Loan

(Payment Reduction)

Want to lower your EIDL payments to free up cash flow for other parts of your business?

In February 2024, SBA expanded the eligibility for the Hardship Accommodation Plan (HAP) for borrowers who are struggling with loan payments. Borrowers eligible for this plan may pay 10% of their usual payments for six months and will have the option to renew after the plan concludes.

Most Business Owners Don’t Realize They Can Qualify:

Reduce your EIDL Monthly Payments by 90%

The SBA announced the Hardship Accommodation Plan option for small business owners and entrepreneurs who received COVID EIDL loans. This allows many of the 4 million COVID EIDL borrowers to temporarily reduce their payments


Each business account is overseen by a licensed CPA who provides full EIDL Audit protection


Maximum monthly payment reduction for 6 months, without first catching up on missed payments


Average loan amount per applicant we are currently assisting to reduce their payments.


The SBA announced this because millions of borrowers have begun EIDL repayments yet many are still facing economic hardships. Hardships include a global recession affecting consumer demand and spending patterns, difficulties paying bills or other loans, and difficulties gaining and retaining customers post-pandemic.

Applying for HAP through us will allow eligible borrowers to pay just 10% of their usual payments for six months. After that, you may be able to get another six months of reduced payments. 

  • Borrowers are required to pay at least 10% of their monthly payment amount (with a $25 minimum), for six months.
  • During the Hardship Accommodation period, borrowers can voluntarily make larger payments.
  • The regular monthly payment amount will resume and be required after the six-month Hardship Accommodation period ends. Borrowers may be able to renew the Hardship Accommodation Plan, if necessary.

Consulting Firm

$50,000 Loan

Current Payment: $250

HAP Payment: $25

Car Rental Company

$75,000 Loan

Current Payment: $375

HAP Payment: $37.50

Sole Proprietorship

$150,000 Loan

Current Payment: $750

HAP Payment: $75

Accounting Firm

$500,000 Loan

Current Payment: $2,500

HAP Payment: $250


Certified Public Accountants

Miod and Company, LLP is a certified public accounting firm that also offers EIDL Payment Reduction services related to COVID-19. Our services aim to assist businesses in reducing their monthly payments where after the initial six months, borrowers may request additional deferrals up to four times.

We take pride in our strong customer support team. We understand the challenges businesses face during the pandemic and are committed to providing timely and accurate guidance throughout the EIDL payment reduction process. Our team is highly responsive and communicates effectively with clients to ensure they understand the eligibility requirements, calculation methods, and documentation needed to reduce your payment amounts. We also assist clients in answering any questions or concerns they may have about the EIDL or other Hardship Accommodation Plan measures. Our team provides a valuable resource for businesses seeking assistance during these difficult times.

Introducing the 100% Done-For-You

EIDL Payment Reduction Service

How Will The Process Work?



Data Gathering

We will collect your loan information, gather all required documents, and complete the SBA Hardship Accommodation Form. 


Submit Application

We will communicate with the SBA and ensure all necessary information is provided.


Application Review

The SBA will review your application and may request additional information.



The SBA will send you an approval letter detailing the reduced payment plan.

Why Miod and Company, LLP?




Program Experts

This is what we do, and we’re the best in the industry at it. See for yourself.

Quick & Easy

Our streamlined process has some clients finalizing payment reductions in as soon as 48 hours.

Secure Process

Put your mind at ease. Our secure Client Portal protects your sensitive information.


Proven Outcomes

“We could not have accessed the EIDL payment reduction without the help of the Miod and Company team. They guided us through the process and ensured that we received the maximum reduction available to us. We would not have been able to take full advantage of this program without their help. Thank you!”


“We are so grateful for the support and guidance that Miod provided. They were knowledgeable, professional, and responsive to our needs throughout the entire process. The EIDL payment reduction has allowed us to manage our financial obligations more effectively and continue to operate our business despite the economic challenges of the past year.”


“I am incredibly thankful for the assistance provided in helping us navigate the EIDL payment reduction process. We received significant financial relief, which has been essential in keeping our business afloat during tougher times. Thank you for your invaluable help!


Frequently Asked Questions

Are EIDL loans forgivable?

In general, traditional and Covid-related EIDL loans are not forgivable. The U.S. Small Business Administration, however, has previously awarded EIDL grants. In the early phases of the Covid-19 pandemic, SBA provided $20 billion in emergency EIDL advance grants that did not have to be repaid and $378.4 billion in Covid-19 EIDL loans that must be repaid when due, data show. Unless Congress intervenes, Covid EIDL debt is not forgivable.

What are the repayment terms for EIDL loans?

Repayment terms for an EIDL loan can vary depending on the loan amount and your financial situation. Generally, loans are due in full after 10 years with a maximum interest rate of 3.75%. However, if you are having trouble making your payments, there are options available for loan forgiveness or renegotiation.

Can borrowers still apply for EIDL loans?

Yes, small businesses that have suffered a substantial economic injury in a declared disaster area may still qualify for non-Covid EIDL funding. The SBA Disaster Loan Program remains active, but the SBA is no longer accepting Covid-related EIDL applications since closing the Covid-related EIDL online application portal in May 2022.

What happens if you default on EIDL loan debt?

You may be personally responsible for repaying the debt if your small business defaults on the EIDL loan obligations. Unless Congress intervenes, Covid EIDL debt is not forgivable.