Tag: SBA
SBA Increases Loan Limits for COVID-19 EIDL Program
The Small Business Administration (SBA) has announced a policy change to help businesses weather the financial hardship brought on by the COVID-19 pandemic by significantly increasing loan limits up to 24 months of economic injury with a maximum loan amount of $500,000.
SBA, Treasury Ease PPP Forgiveness Requirements for Loans of $50,000 or Less
The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, has released a simpler loan forgiveness application for business owners who received Paycheck Protection Program (PPP) loans of $50,000 or less.
Beware of Scams Related to Economic Stimulus Programs
The U.S. Small Business Administration’s Office of Inspector General is warning small businesses about potential fraud schemes related to economic stimulus programs offered by the SBA in response to COVID-19.
NAHB and Michigan Builders File Suit to Expand PPP Eligibility
With so many builders unfairly unable to obtain a forgivable loan under the Paycheck Protection Program (PPP), NAHB, along with the HBA of Michigan and HBA of Southeastern Michigan, today filed a lawsuit against the U.S. Department of Treasury and the U.S. Small Business Administration, challenging their decision to apply onerous regulations onto PPP that prevent certain builders and developers from accessing this much-needed source of funding and having those loans forgiven.
SBA and Treasury Release PPP Loan Forgiveness Application
The U.S. Small Business Administration, in consultation with the U.S Department of the Treasury, has released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application.
House Bill Would Allow HBAs to Access PPP Loans
At NAHB’s urging, Reps. Chris Pappas (D-N.H.), Brian Fitzpatrick (R-Pa.), Gil Cisneros (D-Calif.) and Greg Steube (R-Fla.) have introduced legislation that would allow trade associations that serve the home building industry — including the hundreds of home builder associations throughout the nation — to access small business loans under the next round of funding for the Paycheck Protection Program (PPP).
SBA Now Taking PPP Loan Applications; New EIDL Applications are on Hold
The Small Business Administration resumed accepting Paycheck Protection Program loan applications as of 10:30 a.m. EDT this morning (April 27). If you were in the process of applying for a Economic Injury Disaster Loan and have an application number that begins with the No. 3, you do not need to reapply for a loan.
Reapplying for Small Business EIDL Loans Under the CARES Act
As Congress renewed funding for small-business loan programs that ran out of money under the CARES Act, those who were caught in the middle of the application process need to know the following the information.
SBA Announces PPP and EIDL Loan Programs are Out of Money
The Small Business Administration (SBA) has announced it has run out of funding to process any more small business loans through the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan Program (EIDL) that were created under the CARES Act. These loan programs are designed to help small businesses that have been harmed by the COVID-19 pandemic.
Fed Announces $2.3 Trillion Loan Program to Support Economy
The Federal Reserve today acted to provide up to $2.3 trillion in additional loans to support the economy. To bridge the economy from the current period, where it is partially shut down due to virus mitigation efforts, to an eventual period of economic recovery, the Federal Reserve aggressively expanded its toolbox for providing liquidity.
