The Small Business Administration (SBA) announced on its website that it is not accepting new applications at this time for the Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program, or Emergency Economic Injury Grants (EEIG) based on available appropriations funding.

The SBA stated that EIDL applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.

The SBA reports that through April 13, 2020, it has guaranteed 1,035,086 PPP loans totaling $247.5 billion, with 4,664 lenders.

For more information on the SBA emergency loan programs, see CARES Act: Stimulus for Small Businesses Under the SBA Checklist: CARES Act Paycheck Protection Program and Legal Update, CARES Act: SBA Clarifies Application of Affiliate Rules for Paycheck Protection Program.