Important Update: Business Assistance Programs
SBA Closes Application Portal For EIDL-COVID-19 Assistance Program
Due to the closing of the application portal for Economic Injury Disaster Loan (EIDL) COVID-19 assistance programs (EIDL loans and EIDL Advances), the SBA is temporarily suspending its daily business recovery webinars.
The SBA is processing EIDL applications as quickly as possible. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.
SBA No Longer Accepting New Applications for PPP
The SBA is currently unable to accept new applications for the Paycheck Protection Program (PPP) based on available appropriations funding. Similarly, it is unable to enroll new PPP lenders at this time.
As of mid-afternoon on Wednesday, the U.S. Small Business Administration reported there had been more than 1.4 million applications approved, totaling about $305 billion of the $349 billion set aside. That’s the value of loans the agency has approved for lenders to disburse, not money that has reached borrowers.
If you submitted a PPP application, please check with your lender for the status of that application.
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