SBA Announces It is Out of Money for PPP Paycheck Protection and EIDL Disaster Relief Programs
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.
READ MORE: American Institute of CPAs Urges Additional Funding for Paycheck Protection Program
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Richard Meldner
Richard is co-founder of eSeller365. He has over 17 years of experience on eBay which includes tens of thousands of sales to buyers in over 100 countries and even has experience with eBay’s VeRO program enforcing intellectual property rights for a former employer. And for about two years Richard sold products on Amazon using Amazon FBA in the US.
To “relax” from the daily business grind, for a few weekends a year, he also works for IMSA as a professional race official.