SBA has run out of funding for Paycheck Protection Progam (PPP) and EIDL (Economic Injury Disaster Loan) relief programs for small businesses.
This was posted on Thursday on their website.
Lapse in Appropriations Notice: SBA is unable to accept new applications at this time for the Paycheck Protection Program or the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program (including EIDL Advances) based on available appropriations funding.
EIDL applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.
The only way there will be more money is if Congress and the Administration can agree on a new stimulus bill.
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