Federal disaster loan program applications no longer limited to agricultural businesses

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The Small Business Administration is reopening its Economic Injury Disaster Loan and EIDL advance grant portal to a broader array of eligible small businesses and nonprofits affected by the coronavirus pandemic, beginning Monday.

The portal had been accepting applications only from agricultural businesses for the last month, as demand was high, and those businesses had not been EIDL eligible in the past.

Jovita Carranza, Administrator of the U.S. Small Business Administration, testifies at the Senate Small Business and Entrepreneurship Hearings to examine implementation of Title I of the CARES Act on Capitol Hill in Washington, DC, June 10, 2020.

. The program's emergency grant was also dropped from its initial amount of up to $10,000 per business, to $1,000 per employee, per business.

Source: News Formal (newsformal.com)

 

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SBAJovita Good decisions

SBAJovita Please remove the $150K cap, all entities are not the same

They're really gonna prop up everything huh

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