PPP Loan Applications Open on Monday, April 27 at 8:30 a.m. MDT
The Small Business Administration (SBA) will resume accepting Payroll Protection Plan (PPP) loan applications on Monday, April 27 at 8:30 a.m. MDT from approved lenders on behalf of any eligible borrower. This will ensure that SBA has properly coded the system to account for changes made by the legislation.
Organizations are eligible for both an Emergency Injury Disaster Loan (EIDL) Advance AND a PPP loan, however, you can’t use both loans for the same purpose. PPP loans are available through your lender, and EIDL loans and advances are available through the SBA. Check with your local SBA office to learn more about how you can leverage the emergency advance.
The SBA is only opening the portal for the PPP program at this time. Regarding the EIDL program the SBA notes this on their website:
We will keep you informed if/when the EIDL application reopens on the SBA website.
The Idaho Nonprofit Center created a resource to walk you through the PPP application and you can find that here. If you are reaching out to your lender, please be especially patient as they are going to be inundated with requests for new loans, and follow up from those put on hold. If you need a list of available lenders, you can find a list here.
We also encourage you to complete just one PPP application, not multiple applications with various lenders.
We have tons of other PPP and EIDL related resources on our website so please be sure to look over other information there too.
We also have some really good data to share about the first round of PPP funding:
We will keep you informed of any additional changes to these programs as always.
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