California Gets Largest Share of Disaster Loans That Ran Dry
- White House and Congress strike a deal for additional funding
- Businesses have reported frustration, long waits for answers
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A program operated by the U.S. Small Business Administration has sent the largest share of its disaster loans and grants to California, according to a partial accounting that the agency released Tuesday.
The Economic Injury Disaster Loan program, or EIDL, ran out of money last week with many firms waiting for help. Congress is considering replenishing the program, which is designed to provide loans of as much as $2 million and grants of as much as $10,000 to help small business survive the pandemic.