SBA Approves $200M in New Supplemental Grants

The SBA released their weekly report on EIDL loans, Targeted EIDL grants, and Supplemental EIDL grants yesterday. The results overall showed progress, although questions still remain on the overall EIDL approval progress. Here's the summary of the report, including state-by-state approval data for the EIDL grants. The full repot on the SBA website can be found here.

SBA Approves Nearly 40,000 New Supplemental EIDL Grants

In the most positive news of the week, the Supplemental EIDL Advance approvals went from around 12,000 on the previous week to around 50,000 approval — for a total Supplemental Targeted Advance funding amount of $247M approved to date.

Here's the state-by-state information for Supplemental EIDL Advance approvals:

SBA Approves Around 6,000 New Targeted EIDL Grants

On the flip side, the Targeted EIDL Grants — the original program that had $20B+ allocated in the December 2020 relief package, still sees very slow progress.

Only around 110,000 Targeted EIDL Advances have been approved. The previous week around 104,000 were approved, an increase of only 6,000 over the course of the week — less than 1,000 approvals per day.

In addition, the total Targeted Advance amount funded is less than $1B, less than 5% of the total funding set aside for the program over 5 months after the funding was allocated.

Here's the state-by-state approval information for Targeted EIDL Grants:

If you want to see past EIDL loan or grant recipients, you can check past EIDL recipients here, based on the 2020 publicly available data from the SBA.

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