The following is a template from Loan Mantra for EIDL borrowers to use when reaching out to their senators with concerns about upcoming EIDL payments. The earliest EIDL repayment is set to begin on October 11, 2022.
EIDL Repayment: A Telephone Script
Hi, my name is ______________ and I am a small business owner doing ______. I currently employ _____ individuals.
As your constituent, I’m reaching out to express my concern about the first EIDL repayments due in mid-October. After two years of forced shutdowns and economic uncertainty, I am now also fighting the rise of interest rates and a looming recession before the holidays.
Please help small business owners, including me, by doing the following to avoid loan default:
- Suspend EIDL payments for six months, or until April 2023, to allow small business owners another holiday cycle of earnings and temporary relief during the early winter months of slow sales.
- Fix and streamline the current loan payment and servicing systems (pay.gov and CAFS). Too many EIDL borrowers, including myself, are plagued by the hours of time and manual oversight that is required to ensure my payment is attributed to the correct loan profile.
- Offer me greater education on how my monthly loan payments will be distributed to the interest and principal of my EIDL loan.
Thank you for your time and consideration.
Contact your U.S. Senator by Telephone
- Phone numbers are available on each state's page or on your senator's website
- Senators Suite & Telephone List (PDF)
- A U.S. Capitol Switchboard operator can also connect you directly with the Senate office. (202) 224-3121
To contact your U.S. Senator by email or letter, please see here.