Within weeks, several Federal loan programs established by the CARES Act in response to the economic downturn brought on by pandemic closures will end.
- Closing Monday, December 21:
- SBA’s Economic Injury Disaster Loan (EIDL) Program
- Closing Thursday, December 31:
- Louisiana Loan Portfolio Guaranty Program
- Federal Reserve’s Main Street Lending Program
Businesses interested in applying for any loan programs should contact their accountant and local lender. Congress has failed to pass a new round of stimulus programs as of December 15, but current proposed packages include additional funding for small business loan programs.
BRAC will continue to monitor progress in Washington, D.C., and provide guidance to the regional business community if meaningful legislation is passed.