COVID EIDL · the numbers
EIDL default statistics: how many, how much
The default numbers
portfolio-level| Metric | Value | As of / note |
|---|---|---|
| COVID EIDL loans made | ~3.9 million | program total, ~$378 billion |
| Borrowers in default | ~1.3 million | early 2026 |
| Amount charged off | ~$47 billion | early 2026, and rising |
| Loans referred to Treasury | 562,000 | April 2026 |
| Dollars referred to Treasury | $22.2 billion | April 2026 |
| Treasury collection fee | 30% | added on referral |
| Default share, by loan count | ~1 in 3 | 1.3M of ~3.9M loans |
| Default share, by dollars | ~12% | $47B of ~$378B |
These are the widely-reported aggregate figures from SBA and Treasury. Because COVID EIDL charge-off status is not published loan by loan (as it is for 7(a) and 504), the shares are derived from portfolio totals rather than counted individually.
Why the defaults are climbing now
The bill is arriving all at once. The long initial deferments have ended; the Hardship Accommodation Plan that cut payments to 10% closed in March 2025; and the special-handling waiver for defaulted COVID EIDLs expired on March 31, 2026. Days later the SBA referred 562,000 loans to the Treasury in one batch. Because the program is not forgivable, waiting it out is not a strategy — the collection machinery is already moving.
What a default actually means
Behind each number is a borrower facing a specific process: charge-off, referral to the Treasury with a 30% fee, offset of tax refunds and Social Security, and possible wage garnishment. Whether your personal assets are exposed turns on the $200,000 personal-guarantee line. We walk the whole sequence in what happens if you default — and the ways out in Offer in Compromise and hardship.
Evidence & reproducibility
check our work| Source | SBA public reporting and announcements; Congressional Research Service; U.S. Treasury referral figures |
| Figures as of | Default and charge-off totals: early 2026. Treasury referral: April 2026. |
| Nature of data | Portfolio-level, not loan-level. Unlike SBA 7(a) and 504, COVID EIDL charge-off status is not published per loan, so shares are derived from aggregate reporting, not counted loan by loan. |
| Analysis updated | 2026-08-02 |
Common questions
How many EIDL loans have defaulted?
As of early 2026, roughly 1.3 million COVID EIDL borrowers are in default — on the order of one in three of the ~3.9 million loans made.
How much EIDL debt has been charged off?
About $47 billion as of early 2026, roughly 12% of the ~$378 billion lent, and rising.
What is the EIDL default rate?
On the order of one in three by loan count and about 12% by dollars. These are derived from aggregate SBA reporting — COVID EIDL charge-off status is not published per loan, so they are portfolio estimates, not a loan-by-loan count.
Is the number still growing?
Yes. Deferments have ended, the hardship plan closed in 2025, and in April 2026 the SBA referred another 562,000 loans to the Treasury — so charge-offs and referrals are still climbing.
Related
If you default → Is it forgivable? → EIDL overview →
Figures are aggregate SBA and Treasury reporting, current to mid-2026 and rising. This is education, not legal or financial advice. The SBA’s own hardship and settlement processes are free.