SBA: $20 Billion Provided to Small Businesses and Nonprofits through Economic Injury Disaster Loan Advance Program

Today, the U.S. Small Business Administration announced the conclusion and success of the Economic Injury Disaster Loan (EIDL) Advance program, which provided U.S. small businesses, non-profits and agricultural businesses a total of $20 billion in emergency funding.  In order to assist the greatest number of small businesses, the EIDL Advance […]

SBA: Paycheck Protection Program Loan Data Released

The U.S. Small Business Administration, in consultation with the Treasury Department, today announced it was releasing detailed loan-level data regarding the loans made under the Paycheck Protection Program (PPP).  This disclosure covers each of the 4.9 million PPP loans that have been made. “The PPP is providing much-needed relief to […]

SBA: New Members Appointed to the National Small Business Development Center Advisory Board

SBA Administrator Jovita Carranza today announced the appointment of six new members to the National Small Business Development Centers (SBDC) Advisory Board. “We are delighted to welcome new board members who bring with them a strong business acumen and extensive knowledge to the SBDC Advisory Board,” said SBA Administrator Jovita Carranza.  “The SBDC […]

SBA: New Dedicated Tool Rolled Out to Connect Small Businesses with CDFIs, Small Asset Lenders Participating in PPP

Today, U.S. Small Business Administration Administrator Jovita Carranza announced the launch of a dedicated online tool for small businesses and non-profits to be matched with Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), Farm Credit System lenders, Microlenders, as well as traditional smaller asset size lenders in […]

SBA and Treasury: New EZ and Revised Full Forgiveness Applications for the Paycheck Protection Program Announced

Today, the U.S. Small Business Administration, in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020.  In addition to revising the full forgiveness application, […]

SBA: Economic Injury Disaster Loans and Advance Program Reopened to All Eligible Small Businesses and Nonprofits Impacted by COVID-19

To further meet the needs of U.S. small businesses and non-profits, the U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19 today. “The SBA is strongly committed to working around the clock, providing dedicated emergency […]

SBA and Treasury: New and Revised Guidance Regarding the Paycheck Protection Program Announced

The U.S. Small Business Administration, in consultation with the U.S. Department of the Treasury, issued new and revised guidance for the Paycheck Protection Program (PPP).  This guidance implements the Paycheck Protection Program Flexibility Act (PPPFA), signed into law by President Trump on June 5, 2020, and expands eligibility for businesses […]

SBA: Joint Statement Regarding Enactment of the Paycheck Protection Program Flexibility Act

SBA Administrator Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin issued the following statement today following the enactment of the Paycheck Protection Program (PPP) Flexibility Act: “We want to thank President Trump for his leadership and commend Leader McConnell, Leader Schumer, Speaker Pelosi, and Leader McCarthy for working on a bipartisan basis to pass this legislation for […]

SBA: Treasury and SBA Announce $10 Billion for CDFIs to Participate in the Paycheck Protection Program

 Today, the U.S. Small Business Administration, in consultation with the U.S. Treasury Department, announced that it is setting aside $10 billion of Round 2 funding for the Paycheck Protection Program (PPP) to be lent exclusively by Community Development Financial Institutions (CDFIs).  CDFIs work to expand economic opportunity in low-income communities […]

SBA: Launch of New Maryland Women’s Business Centers Celebrated

Increases Opportunities and Recovery Solutions for Women Entrepreneurs with Two New Women’s Business Centers The U.S. Small Business Administration  announced today the launching of two Maryland Women’s Business Centers hosted by Morgan State University in Baltimore and Maryland Capital Enterprises in Salisbury. These new centers will carry out the mission of helping women-owned small […]