How Do I Check My PPP Loan's SBA Application Status?
The Small Business Administration (SBA) is a federal agency that offers a variety of resources for small businesses, many of which aim to provide financial counseling, capital and other forms of assistance to help entrepreneurs and smaller organizations thrive. In response to the COVID-19 pandemic, the agency introduced Paycheck Protection Program (PPP) and Economic Injury Disaster (EIDL) loans, both of which aim to ensure operational continuity for small businesses by providing funds to keep workers employed and stores open.
Given the urgent nature of these loans and the equally pressing anticipation of their approval, many business owners are eager to find out the status of their applications. If you’re among them, it’s important to know that there are different methods for different loans, and some methods of checking loan application status can be more effective than others. Here’s how to get started.