SBA Slashes EIDL Limit from $2 Million to $150,000, Shuts Out Nearly All New Applicants

Posted By American Med Spa Association, Friday, May 8, 2020

An emergency disaster lending program for small businesses has been so overwhelmed by demand that it has significantly limited the size of loans it issues, while blocking nearly all new applications from small businesses, according to people familiar with the situation.
The Economic Injury Disaster Loan program is a long-standing Small Business Administration program that’s separate from the new Paycheck Protection Program, which has challenges of its own.

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