Economics

Most Small Firms Report Not Yet Getting Money From Virus Funds

NFIB surveyed members after money expired from relief programs
Most don’t think the economy will recover until 2021, or later

A pedestrian wearing a protective masks walks a dog past closed stores in downtown Sioux Falls, South Dakota on April 15.Photographer: Dan Brouillette/Bloomberg

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By Mark Niquette

April 20, 2020 at 8:50 PM UTC

This article is for subscribers only.

Most small businesses that applied for two government coronavirus relief programs haven’t received any money yet, with most still planning to apply when funds ran out last week, a new survey shows.

Only about 20% of small businesses that applied for a loan under the Paycheck Protection Program, or PPP, had money deposited in their account as of April 17, according to a survey that the National Federation of Independent Business conducted of its members. Few members received funds under the Economic Injury Disaster Loan initiative, or EIDL, a virus aid program that’s separate from PPP, the survey showed.