SBA Out of Funds

| April 16, 2020

As of 8:00 am on April 16, 2020 the SBA EIDL and PPP programs are out of funds and not taking applications until Congress appropriates more funding, see details here.  The SBA says that EIDL applications that were already submitted will be processed on a first come, first served basis.  If you had already applied for a PPP loan through a bank but have not received money yet, you will need to check with your bank to see if your application was submitted to the SBA and is in the pipeline, or if you will need to wait until more funding is available.

This is still a good time to prepare for assistance, if more funds become available.

NAR is reaching out to legislators to ask for more assistance, 2020.04.13 NAR Letter to Congressional Leadership Re EIDL and PPP Funding