Small Business Administration out of Funds
- John Cornelison
- April 16, 2020
Table of Contents
SBA announced that it is out funds after only two weeks, and is not accepting applications from small businesses. 1,637,000 applications valued at $339 Billion were accepted. This affects island business looking for relief through Payroll Protection Program. Applications for the PPP funds commenced April 3. Applicants were initially taken only from for profit entities. Nonprofits applications followed the following week.
Congress continues to debate additional funding.
-- From Sam Williams