When the Small Business Administration (SBA) launched its $50 billion Economic Injury Disaster Loan (EIDL) program to help small businesses weather the impact of the COVID-19 pandemic, it was almost immediately mobbed.
This week, Congress is expected to pass legislation that will refuel both programs. But a lot of businesses who have applied for one or both of these programs are wondering where the COVID loans went.
Now, we know where the EIDL program saw the money go in terms of loan volume and dollar amounts. The SBA provided details on a state by state breakdown of the EIDL loans approved to date.
Not surprisingly, California topped the list. It is, after all, one of the biggest economies in the world, not just in the U.S.
Jesse Noyes is Head of Content for Zenefits. He started out as a business reporter before beginning a career in marketing. Jesse is naturally curious not only about the work people do, but why they do it. His first job was building freestanding stone walls in his home state of Maine.
