This calculator and tracker is for anyone that took out an EIDL loan related to Covid-19.
Note: This is fully updated for the 30-month payment deferral period that the SBA announced in March 2022.
This EIDL Interest Calculator and Tracker will help you:
Calculate the accrued interest on your loan, including interest accrued during the deferral period.
Calculate your total interest paid over the life of the EIDL loan, including the impact of a 2nd draw loan and/or making early payments.
Calculate how much making early or extra payments would change the total interest you must pay and how long it would take to pay off your loan.
Make a plan for how to pay off your loan in the timeframe you desire.
Track your payments made with your EIDL loan in order to show proof if
ever requested by the SBA (highly recommended).