SBA EIDL Loan Update – More Funds and Extension Have NOT Been Approved
There is a new proposal in Congress that may provided additional funding for SBA programs, but the way the proposal is written has NO mention of providing additional funds to the SBA EIDL Loan Program nor SBA EIDL Grant / Advance.
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The SBA may get new funding from congress for grants and loans, but don’t believe fake news that is going around, because the new funding that the SBA may get is not for the grants and loans that are being reported in other channels; that’s what we are going to talk about in this video.
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Now, we wanted to do this quick video because we have seen fake news, or maybe news that has not been interpreted correctly. There are some YouTube channels that are saying that congress is about to approve more fundings for the SBA, meaning that the EIDL loan may be extended, and that they are going to give out new grants; this is not true. Right now, congress is trying to make a deal for the Build Back Better Biden’s proposal, in that proposal they are giving more funding to the SBA for loans and grants, but it’s not for the EIDL loan, and it’s not for the EIDL grant or advance.
Remember that the SBA has other grants and they have other loans, and many news, many other channels are saying that it’s going to be another EIDL loan, and another EIDL grant once the SBA gets these funds approved. That’s not true, so we just want to inform our audience that, yes, the SBA may get additional funding if congress approves it for what is being proposed right now, but it’s not for more EIDL loan funds, and it’s not for more EIDL grants, okay?
Right now, the EIDL loan program and grants program are still scheduled to end December 31st 2021. So, we just wanted to make this quick video, so you know the truth.
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