#SBA #EIDL #StimulusUpdate
A pot of money meant to help prop up small businesses during the coronavirus pandemic has run out of funds.
The Economic Injury Disaster Loan Advance program, a federal measure offering grants of up to $10,000 to entrepreneurs, has ended after reaching the $20 billion funding limit allowed by Congress, the Small Business Administration announced Saturday.
Lawmakers envisioned the program, an enhancement to the existing Economic Injury Disaster Loan program, as a way to get fast cash to struggling entrepreneurs.
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