Payroll Protection & EIDL Funds Currently Unavailable

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?

1. First and foremost contact our elected officials and encourage them to appropriate additional funds for these programs.  Call or email TODAY!
2. If you have not yet applied, don’t panic.  Complete the application and HAVE IT READY for when applications are opened up once again.  Call your lender (give them grace and have patience!) to make sure you are ready to go.  
3. If you have applied, but not yet received the funds, don’t panic.  Call or email your lender (give them grace and have patience!) to get a status update on your application.  If it was submitted all is not lost. If it has not yet been submitted, ask them for advice and guidance.  
4. If you have MORE THAN ONE PPP or EIDL application floating out there (we’ve been told that some people applied with multiple lenders!) please get a status update and if your application is submitted and your lender can give you some confidence about funding PLEASE CALL OTHER LENDERS AND CANCEL YOUR DUPLICATE APPLICATIONS.  That will help your fellow nonprofits and small business owners tremendously.

 
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.