After finishing this episode, we got the following notice from the SBA. I would continue to monitor their site just in case more money becomes available.
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.
To learn more about the relief options available for your business, click here.
We've been shut down for about three weeks now and I wanted to give you a quick SBA loan update.
Today, I’m going over some good, confirmed Small Business Administration (SBA) information that you can use today (something that I received in my inbox). This is a direct email, which is official documentation or correspondence from them.
At this point, I am optimistic that some of these programs will help us weather the storm here.
I have this healthy distrust of my government when it comes to these things. But it sounds like they're sorting it out. Our government is revamping a lot of things as they go along. They've been slower than I would like. But we all have to be patient, especially during this unprecedented time.
I haven’t received any funds yet. But there are people getting it finally… so I finally had the courage to stand here behind the mic and tell you that these things are working to some extent for some people.
In this episode, you’ll hear:
An overview of the Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP) Loan information, who can apply, loan details and forgiveness How to use the SBA Local Assistance Tool to find lenders near you Available tools and resources (found below)
SBA General Information
Copy of Small Business Administration Email
Economic Injury Disaster Loan
Paycheck Protection Program
Find A Paycheck Protection Program Lender
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