More EIDL loans coming

Targeting smallest firms

      The Small Business Administration on April 22 launched a new round of Economic Injury Disaster Loans (EIDLs) to provide $5 billion to very small businesses and non-profits severely affected by COVID-19.

      The new initiative aims to assist firms with 10 or fewer employees, according to an SBA news release.

      The Supplemental Targeted Advance program was created under the American Rescue Plan law approved in March 2021. The SBA last month raised the maximum loan amounts for COVID-related EIDL loans to $500,000.

More information:
SBA release:https://bit.ly/3vARnPu

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