Are SBA programs being used by Missouri businesses? YES!
June 18, 2020 - According to data released by the U.S. Small Business Administration (SBA), Missouri businesses are using the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) assistance programs.
Missouri businesses have taken out 87,797 PPP loans totaling more than $9 billion, according to the most recent data available (June 12, 2020). The PPP loan forgiveness application has been simplified in recent days (see our other article here).
Missouri businesses received a total of 15,872 EIDL loans as of June 12, 2020, totaling more than $1 billion. EIDL assistance provides loan advances up to $10,000 that do not have to be repaid. For more information on the EIDL program, click HERE.
Special thanks to the Missouri Department of Economic Development for providing links to these data.