WASHINGTON – Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration and the voice for America's 32.5 million small businesses in President Biden’s Cabinet, directed the agency to provide additional deferment of principal and interest payments for existing COVID Economic Injury Disaster Loan program borrowers for a total of 30 months deferment from inception on all approved COVID EIDL loans, March 15.

The extended deferment period will provide additional flexibility to small business owners impacted by the pandemic, especially those in hard-hit sectors m...