Billions Remain in EIDL Program

Notwithstanding the end of the Paycheck Protection Program and the launch of the forgiveness portal as detailed above, the U.S. Small Business Administration (SBA) still has more than $27 billion left in its Targeted Economic Injury Disaster Loan Advance (EIDL) grant program months after the program launched. Notwithstanding the availability of billions more in funding,…

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SBA Expands Targeted EIDL Pool

The SBA Administrator Isabel Guzman has announced that the agency will expand eligibility for its $25 billion cash grant program to a host of additional businesses. SBA’s Targeted Economic Injury Disaster Loan Advance grant program, which provides up to $10,000 to eligible businesses as well as its Supplemental Targeted Advance program ($5,000 follow-up grants) will…

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SBA May Reconsider EIDL Rejections

The Small Business Administration (SBA) has opened up a new way for small-business owners to push back against a denial of their application for a Targeted Economic Injury Disaster Loan (EIDL) Advance cash grant. The agency last week announced a process by which rejected applicants can petition for reconsideration of funding. To formally request a…

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SBA Launches Targeted EIDL Program

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…

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