How to make payments on your EIDL Loan

October 2, 2022

The EIDL deferment period was extended from 24 months to 30 months. That means your EIDL payments will start 30 months after the date of your loan origination. For example, if your EIDL loan originated in May 2020, your payments would start in November 2022.  Not sure when your payments are due and how much they are?

Get Payment and Due Date Information

First, head to the SBA’s Capital Access Financial System (CAFS) website and create an account. Your CAFS account contains all the information about your loan — including the payment dates, loan amount (principal and interest), and your monthly payment amount.  The original website where you applied for your EIDL loan is no longer active, so you must setup an account through the CAFS website.

  1. Go to the CAFS Website and create an account.  You will need the following information:
  2. Name and date of birth
  3. User type (borrower)
  1. Address and phone number
  2. Social Security Number
  3. SBA loan number (not the application number):  If you do not know your loan number, the best place to check is your original loan documents.  SBA Loan numbers are 10 digits.  If you cannot find your loan number, you can contact one of the Disaster Loan Servicing Centers: El Paso Loan Servicing Center (El Paso, TX): 1-800-487-6019 or Birmingham Loan Servicing Center (Birmingham, AL): 1-800-736-6048
  4. For a screen-by-screen walkthrough for further details, please reference the CAFS SBA Borrower Account Setup Guide.
  5. After creating your account, a PIN will be sent to your phone or email address.  Enter that PIN and click the “Verify PIN” button (the enter button will not work here).
  6. Click on the word “Borrower” in the upper left side within the blue bar.
  7. Click “Borrower Search” and then your loan number (if you have multiple loans, all will be on the same portal).  You should be able to see details of your loan, including the balance, payment due date, and payment amount due.
  8. Make a note of your loan number, the payment amount, and the payment due date as you need these to setup your payments.

Setup One-Time or Recurring Payments

Now, let’s move to where you will make your loan payment.  You can mail a check or make a payment through your bill pay service, but you may run into issues if the payment is not received on time or posted in a timely manner, so we suggest using the ACH system through the SBA.

💡Pro Tip:  We recommend setting up a separate checking account for your SBA loan repayments.  Set up an automated transfer of funds each month from your operating account to this special account to make your payment and let the payment draft through the SBA system.  Set it and forget it with this simple method.

  1. Head to the official payment website of the government,  Sign in if you already have an account for your business in the upper
Pay gov screen
  1. right corner of the screen.  If not, select “Create an Account” in the upper right corner.
  2. There should be a box in the middle that says “Make a SBA 1201 Borrower Payment” with a link under it that says “Pay it right here.”
  3. Complete the information on the first page of the form with name, address, loan number and payment amount.
  4. After you confirm the payment amount, click Continue to go to the “Enter Payment Info” page. This is where you will select the payment method — ACH bank payment, PayPal, or debit card.
  5. You can choose if this is a one-time payment or setup recurring payments along with the frequency of payments (if recurring), and the number of payments you want the loan to make.  EIDL Loans have a 30-year term, so you would enter 360 payments as the term.

Mailing a payment for your EIDL Loan

If you wish to make a payment by mail, make your check payable to “US Small Business Administration” and indicate the 10 digit SBA loan number in the memo field.  Mail your payment to:

U.S. Small Business Administration
P.O. Box 3918
Portland, OR  97208-3918

Making an EIDL Payment through your Bank’s Bill Payment System

Add the Small Business Administration as the payee and your 10-digit loan number as the “account number.” If you need to enter a phone number for the SBA, use the phone number provided on the front of your EIDL statement. Use the following address:

U.S. Small Business Administration
P.O. Box 3918
Portland, OR  97208-3918

Remember that there are no pre-payment penalties so if you would like to make larger payments or pay off your loan at any time, you can do that.  Just be sure to cancel recurring payments if you choose to pay off your loan early.

Donna Bordeaux, CPA with Calculated Moves

Creativity and CPAs don’t generally go together.  Most people think of CPAs as nerdy accountants who can’t talk with people.  Well, it’s time to break that stereotype.  Lively, friendly and knowledgeable can be a part of your relationship with your CPA as demonstrated by Donna and Chad Bordeaux.  They have over 50 years of combined experience as entrepreneurial CPAs.  They’ve owned businesses and helped business owners exceed their wildest dreams.   They have been able to help businesses earn many times more profit than the average business in the same industry and are passionate about helping industries that help families build great memories.