SBA has run out of funding for Paycheck Protection Progam (PPP) and EIDL (Economic Injury Disaster Loan) relief programs for small businesses.
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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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