NJSBDC Counseling Available While Congress Debates Additional SBA Program Funding The New Jersey Small Business Development Centers (NJSBDC) network wishes to provide you with an official update we obtained from the US Small Business Administration (SBA). The SBA is unable to accept new applications at this time for the Paycheck Protection Program (PPP) or the Economic Injury Disaster Loan (EIDL) COVID-19 related assistance program (including EIDL Advances) based on available funding. EIDL applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis. Congress may appropriate additional funds for the PPP at which point the SBA will once again be able to process loan applications, issue loan numbers, and protect millions more paychecks. Congress is scheduled to resume negotiations on this program on April 20 which could take an undetermined amount of time, based on when Congress is in session. America’s Small Business Development Centers – New Jersey (also known as NJSBDC) and regional Small Business Centers (SBDCs) around the state, which serve as a resource to SBA, continue to be available for counseling while the financial situation is resolved at the national level. We understand your frustrations and can help answer some questions as well as find alternate solutions to help get you back on track. Feel free to select your nearest NJSBDC from our Get Help page to schedule a no-cost, one-to-one virtual counseling session asap.
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