The SBA announced the $350 billion in funding for the newly established loan programs (Paycheck Protection Program and Economic Injury Disaster Loans), established as part of the CARES Act, has been exhausted. It's expected that Congress will act to replenish funding for the programs in the coming weeks, but an agreement has not yet been reached. We will continue to provide updates as available. In the meantime, in anticipation of funding for the loan programs and to provide insights on the existing application process, SDAR is hosting a webinar this Monday at 2:00 pm. Topics will include:
- What to do right now to minimize cash out-flow
- Federal Economic Injury Disaster Loan (EIDL) – How it works and how to apply
- Paycheck Protection Program (PPP) – How it works and how to apply. How to apply as an independent contractor.
- Other options, including local and state programs
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