The U.S. Small Business Administration said in a statement that as of May 25, the Economic Injury Disaster Loan Program approved 500,074 loans nationally totaling $42.4 billion. EIDL Advance is about 3.1 million advances for about $10.2 billion.
“In Utah, the SBA has approved 3,761 loans representing a total of $365,326,200. These loans will continue to be processed through the SBA’s Office of Disaster Assistance,” said SBA Utah District Director Marla Trollan. “They are critical to small businesses as they continue their recovery efforts here.” EIDL Advances in Utah stand at 23,507 advances amounting to $82,675,000.
If a business receives an EIDL advance and an EIDL loan, the amount of the advance is deducted from the loan.
For more information about the SBA and its programs visit www.sba.gov/disaster.