$129 Billion Left In Paycheck Protection Program Loans Left; Economic Injury Disaster Loans and Advance Program Reopened to All Eligible Small Businesses and Non-Profits
EULESS – The US Small Business Administration (SBA) is encouraging businesses and non-profits that have not applied for the Paycheck Protection Program (PPP) to do so immediately before the June 30th deadline to have all documents submitted to SBA. There is still around $129 billion left in the program. To find a lender visit www.sba.gov/paycheckprotection/find
To further meet the needs of U.S. small businesses and non-profits, the SBA reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19.
“SBA’s EIDL program offers long-term, low interest assistance for a small business or non-profit. These loans can provide vital economic support to help alleviate temporary loss of revenue. EIDL assistance can be used to cover payroll and inventory, pay debt or fund other expenses. Additionally,the EIDL Advance will provide up to $10,000 ($1,000 per employee) of emergency economic relief to businesses that are currently experiencing temporary difficulties, and these emergency grants do not have to be repaid” said Ahmad Goree, SBA’s Public Information Officer.
SBA’s COVID-19 Economic Injury Disaster Loan (EIDL) and EIDL Advance
For additional information, please visit the SBA disaster assistance website at SBA.gov/Disaster.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
Lead Economic Development Specialist/Public Information Officer
Dallas/Fort Worth District Office
U.S. Small Business Administration
Cell (817) 296-4217