Small Business Majority urges SBA to disburse EIDL funds and cash advances in a timely manner

Wednesday, April 8, 2020

Amidst reports that small business owners around the country are waiting days and weeks to receive their Economic Injury Disaster Loan (EIDL) funds and that borrowers are not receiving their loan advances as required by the recent stimulus package, Small Business Majority sent a letter to the U.S. Small Business Administration demanding that they address this issue and ensure better communication and efficiency in the loan process. 

The letter, which was shared with House and Senate leadership and both House and Senate Small Business Committees, states that while we appreciate that the SBA is doing what it can to help small businesses facing collapse, but the SBA must use whatever means necessary to ensure timely and efficient disbursement of loan funds. Desperate small business owners around the country are being told to be patient as they wait for funds or clearer guidance about the options before them, but these owners are making tough decisions about the future of their businesses today and cannot afford further delays.