Update February 25, 2021: EIDL Payments & Round 2 Exclusivity Period
EIDL Forgiveness Payments
We have started to receive EIDL Forgiveness Payments. We will first apply payments to any round 1 PPP loan outstanding. If your round 1 PPP loan is paid in full, we will attempt to deposit funds into the business checking associated with the loan. If no active account exists, we will issue a check and mail it to the business address.
Targeted EIDL Advances for Round 2
Targeted EIDL Advance notifications are being sent out directly by SBA. An eligibility mapping tool
has been created. Lenders need not do anything; Borrowers need not do anything. The SBA will reach out directly, because they already know who is eligible
. Please ensure that you are responding to only official correspondence from a SBA.gov email address or SBA.gov link.
Two Week Exclusivity Period
Beginning at 9 am February 24, the Small Business Administration (SBA) limited processing of PPP originations to businesses with 19 and fewer employees. This is called the exclusivity period, and will last two weeks. We will resume review and processing applications for businesses with 20 or more employees on March 10.