Money Runs Out For Small Business Loan Program
The SBA today announced that it is unable to accept new applications for the PPP or enroll new lenders into the program. The EIDL program has also run out of money for the time being and is not accepting new applications. Congress is in the process of negotiating another round of funding for the loan programs. It is possible, that in addition to new funds being allocated, there may be additional loan programs put into place. Stay tuned for further updates.