EIDL Loan Update
The Small Business Administration (SBA) stopped processing Economic Injury Disaster Loan (EIDL) Advance requests on July 11th. As of now, the program funds have been fully allocated. By law, the SBA is not permitted to issue new EIDL Advances once all program funding has been obligated.
Sunset Date of $600 CARES Unemployment Boost
An extra $600 per week in unemployment insurance benefits was added to the state benefits that eligible Americans received due to a provision of The CARES Act. That extra $600 boost recedes at the end of July unless the federal government extends the program. Currently, the last week unemployed individuals are eligible for the benefit is the week ending with Saturday, July 25th.