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Small businesses have until year’s end to get $100 billion in expiring SBA funds
Time is running out for businesses to get COVID funding from the Small Business Administration. Are you leaving money on the table? Unfortunately, many are. The Economic Injury Disaster Loan program, or EIDL, was created as an offshoot of the agency’s existing disaster loan programs. It is specifically targeted at businesses in disaster areas caused by the COVID-19 pandemic. Since its introduction, billions have been distributed in the form of loans and grants to millions of small businesses. As of last week, almost $300 billion in loans and grants has been approved by the SBA. About 282,000 small businesses in Pennsylvania and New Jersey took part in the programs, receiving…