SBA Launches Supplemental Loan Program for Small Businesses Hardest Hit by COVID-19
The U.S. Small Business Administration (SBA) announced on Thursday, April 22, that it will provide $5 billion in additional Economic Injury Disaster Loan (EIDL) assistance to one million small businesses and nonprofit organizations that have been most severely impacted by the economic effects of the COVID-19 pandemic. The additional loans fall under the Supplemental Targeted Advance loan program, the latest SBA relief program to launch as part of the American Rescue Plan Act on March 11, 2021. SBA Administrator, Isabella Casillas Guzman, said many of the nation’s small businesses are still struggling to recover from the economic impact of the
