In the original Restaurant Revitalization Fund (RRF), there were $28 billions available and the program run out of funds pretty quickly. Applicants within the priority group received approximately $18 billion in grants; including $7.5 billion for women-owned businesses, $1 billion for veteran-owned businesses, $6.7 billion for social and economically disadvantaged-owned businesses and $2.8 billion for
Last night, the SBA PPP portal was closed to the financial institutions. No more applications were able to be submitted today. The question is what will happen to the applications submitted but not yet approved. Note that there are around $8 billions on the side for minority groups and around $6B for applications with error
Small businesses have been receiving communications (mainly, via email) that the EIDL has been approved and to complete the next steps on their website. Once you complete the process, you need to comply with their requirements and allow access to your books (“for the most recent 5 years until 3 years after the date of
