Dear Friends of North Coast SBDC:
We learned from a
his morning that both the EIDL (Economic Injury Disaster Loan) loan portal and the Paycheck Protection Program (PPP) were shut down last night. Both loan programs are now closed
, pending new appropriations from Congress.
Our current understanding is that the SBA is still processing previous EIDL applications already in their system. They're just not taking new applications.
New way to check status of EIDL Application:
- Call (800) 659-2955 (SBA Disaster Assistance Customer Svc Center)
- Press 2
- Press 3
You'll then go to another voice prompt
- Press 2
- Press 4 for Loan Status
ew PPP loan applications through each lender will likely be placed on hold until now.
Speak with your lender directly
--some are taking names on a waiting list. Some are able to continue processing loan applications that got into the SBA system under the wire.
Congress is currently working on an additional stimulus package to increase the capacity of both the PPP and EIDL programs. Our hope is that they will resolve their issues and come to an agreement to continue both programs as soon as possible.
We will update you with more information as we receive it.
Director, North Coast Small Business Development Center