Last week, as the Small Business Administration (SBA) announced that it would be releasing the remaining $180 Million in the Restaurant Revitalization Fund (RRF), the Small Business Committee in the US Senate was reiterating a call for the SBA to also release the remaining $800 Million still available in the Economic Injury Disaster Loan Program.…
Read More »As we’ve advised in the past, the Small Business Administration ceased accepting applications to the Economic Injury Disaster Loan program as of January 1 of this year. Today, May 6, 2022 is the deadline for those who want to request a loan increase or perhaps reconsideration of a loan rejection! The COVID-19 EIDL Portal, also…
Read More »The Small Business Administration (SBA) this week announced that it was extending the deferment period for COVID-19 Economic Injury Disaster Loan (EIDL) borrowers to 30 months from the time when the loan was first approved. The EIDL program provided nearly four million small businesses with more than $350 billion in emergency funding during the COVID…
Read More »Although the Small Business Administration (SBA) is slated to continue taking applications for the popular Paycheck Protection Program until the end of this month, it appears the agency has exhausted its funds for most lenders. The SBA acknowledged earlier this week that it was not accepting applications for new loans from most lenders – but…
Read More »On Tuesday, the U.S. House of Representatives voted, by an overwhelming margin of 415 – 3, to approve a two-month extension of the Paycheck Protection Program (PPP). The PPP is currently set to expire on March 31 but under the House-passed measure, the SBA would continue to accept and approve applications from businesses for the…
Read More »The US Small Business Administration (SBA) this week officially relaunched the Economic Injury Disaster Loan program (EIDL) under its new name: Targeted EIDL Advance. Part of the initial CARES Act in 2020, the program quickly exhausted its funding, but was replenished back in December with an infusion of additional funds along with more targeted eligibility…
Read More »Back a week before Christmas, the Small Business Administration (SBA) announced that the deadline to apply for a COVID-19 pandemic Economic Injury Disaster Loan has been extended to December 31, 2021. To date, SBA has approved $197 billion in low-interest loans, which provide U.S. small businesses, non-profits, and agricultural businesses working capital funds. Economic Injury…
Read More »The U.S. Small Business Administration (SBA), which managed the Economic Injury Disaster Loan Program (EIDL) as well as the Paycheck Protection Program (PPP) among other loan programs, released detailed information about both EIDL and PPP earlier this month in accordance with a court order. The programs, both of which were designated in early March to…
Read More »A federal judge has given the Small Business Administration (SBA) until next Thursday, November 19, to release the names of all businesses that received loans under the Paycheck Protection Program. Washington DC-based U.S. District Court Judge James Boasberg ruled that borrower information – including the loan amounts from the Paycheck Protection Program (PPP) as well…
Read More »As the Senate continue to debate next steps in terms of new coronavirus relief actions, a part of the Small Business Administration’s Economic Injury Disaster Loan (EIDL) program has run out of advance monies. The EIDL program, which was funded to the tune $20 billion in the CARES Act, provides that businesses that apply for…
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