SBA Current Updates - PPP FAQs

May 4, 2020

Current updates…

  1. The SBA will begin accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications on a limited basis only, in order to provide unprecedented relief to U.S. agricultural businesses. At this time, only agricultural business applications will be accepted due to limitations in funding availability. The application is available at: www.SBA.gov/Disaster.
      1. The new eligibility is made possible as a result of the latest round of funds appropriated by Congress in response to the COVID-19 pandemic. Agricultural businesses includes those businesses engaged in the production of food and fiber, ranching, and raising of livestock, aquaculture, and all other farming and agricultural related industries (as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)).  SBA is encouraging all eligible agricultural businesses with 500 or fewer employees wishing to apply to begin preparing their business financial information needed for their application.
  2. SBA has resumed processing EIDL applications that were submitted before the portal stopped accepting new applications on April 15 and will be processed on a first-come, first-served basis. 
  3. Updated PPP FAQ (https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf)
  4. First Round of PPP numbers (at this time local/county numbers are not available)https://content.sba.gov/sites/default/files/2020-05/PPP%20Deck%20copy.pdf 
      1. Second Round of PPP numbers (at this time local/county numbers are not available)https://www.sba.gov/sites/default/files/2020-05/PPP2%20Data%2005012020.pdf
  5. EIDL (as of 4/24/2020) https://www.sba.gov/sites/default/files/2020-04/EIDL%20COVID-19%20Loans%204.24.20.pdf 
      1. EIDL Advance (as of 4/24/2020) https://www.sba.gov/sites/default/files/2020-04/EIDL%20COVID-19%20Advance%204.24.20.pdf 
  6. Idaho Rebound Cash Grants for Small Businesses (opens 5/11/2020; 1-19 employees; 5/18/2020 1-50 employees) (https://rebound.idaho.gov/idaho-rebound-cash-grants-for-small-businesses/)
      1. Draft Guidelines (https://rebound.idaho.gov/wp-content/uploads/2020/05/draft-rebound-grant-faqs.pdf)

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