SBA has $30B Available in EIDL Loans — Targets Low-Income Communities to Small Businesses in Distress
Continuing Coverage: SBA Has Billions In EIDL Funding Left To Distribute.
Click on the button below to see where the low income communities are in your area or anywhere in the United States. The picture above is a snap shot of the East Rockville, Rockville Pike and Viers Mill Road areas over to Aspen Hill and down to Glenmont. When you click on the button, type in your business or home address. You’ll be surprised what you might find.
In continuing coverage of the billions left in the SBA’s Targeted EIDL program, the Dallas (TX) Morning News (6/28, Bahari) reports the SBA “said last week it had disbursed only $1.5 billion of the $30 billion available for a COVID-19 aid program meant for small businesses in low-income areas,” saying the program was under-subscribed. The statement “angered business owners who applied months ago and are still waiting for money,” and “also frustrated owners who are struggling to survive month-to-month but don’t qualify for the grants because they aren’t in low-income areas defined by an SBA mapping tool.” The SBA’s disaster loan office has gotten 19 million applications since March 2020 “for the Economic Injury Disaster Loan program meant to aid small businesses during the pandemic.”
Please note: SBA District Offices do not accept, review, approve, decline, fix or give status updates on Economic Injury Disaster Loans (EIDLs), Paycheck Protection Program (PPP) loans, Shuttered Venue Operators Grant (SVOG) applications or Restaurant Revitalization Fund (RRF) applications. We can, however, help by providing you with program overviews to assist in getting you up to the point of submitting your application. Please continue to work with your lender for PPP loan inquiries; SBA’s Office of Hearings and Appeals for PPP loan forgiveness; SBA’s Office of Disaster Assistance (ODA) Customer Service Center at 800-659-2955 for EIDL inquires; call 844-279-8898 for RRF inquires; and the ODA Customer Service Center at 800-659-2955 for SVOG application inquiries.
Published by Timothy Fahey, Dirigo Agency, Inc. Branding and Design