SBA Announces Lapse in Appropriations

17 April 2020

The US Small Business Administration (SBA) announced that the Administration is unable to accept new applications for the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program (including EIDL Advances) as well as the Paycheck Protection Program (PPP) based on available appropriations funding. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.

TABS encourages those eligible to prepare their PPP and EIDL applications in the likely event of more funding being allocated. For more information, see the SBA’s Coronavirus Disaster Assistance webpage here or contact the TABS COVID-19 Support Team at: covid19@tabsinc.com.