As you have probably already heard, the SBA is no longer accepting new applications for the Payroll Protection Program based on available funding at this time. Additionally, the Economic Injury Disaster Loan (EIDL) and $10K advance program is also unable to accept new applications.
The SBA has assured us that they will process previously submitted applications on a first-come first served basis. We do not have a lot of information at this time, but will share what we know and what you can do.
What can you do right now?
Don’t forget that some nonprofits also may qualify for FEMA assistance. Make sure you check out information on this option in addition to SBA loan options.
Be sure to check out our COVID-19 resource pages, as we learn of other funding opportunities we will add them online.
There are funds set up in nearly every region in Idaho that are currently accepting applications for grants at this time. In north and north central Idaho Innovia Foundation has set up Covid-19 Community Response And Recovery Funds, the Idaho Community Foundation has a statewide (with regional funding) COVID-19 Fund for Idaho and in eastern Idaho the Bank of Idaho in partnership with Idaho National Laboratory set up a Community Commitment Fund. Many of our United Way partners are also involved in recovery funds so reach out to your regional UW team for information.
Rest assured we are advocating on your behalf for additional funds to these critical SBA programs and we won’t rest until the phase 4 legislation is passed and massive improvements are made and additional funds are appropriated to support your work.
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