Updated: With new reporting on the EIDL debt limit increase, which was expanded to $2 mill...

SBA Opens the Spigot Wider for EIDL Loans Up to $2 Million – Inc.

Updated: With new reporting on the EIDL debt limit increase, which was expanded to $2 million on September 8.For the 177,300 businesses that applied for grants for the vastly over-subscribed Restaurant Revitalization Fund (RRF) program but did not receive any cash, the Small Business Administration has a solution: Get a loan.On Tuesday, the SBA published an interim final rule which took immediate effect. The SBA is expanding access to its Economic Injury Disaster Loan (EIDL) program, low-interest loans for businesses and nonprofits damaged by the pandemic, to certain businesses--like restaurants with up to 20 locations, provided each location has no more than 500 employees. With more …

 

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