Blog, July 2020
Covid Stimulus Watch Adds $60 Billion in Economic Injury Disaster Loans
By Mellissa Chang
Covid Stimulus Watch now contains award information for almost 400,000 Economic Injury Disaster Loan (EIDL) payments from the CARES Act, amounting to more than $60 billion in loans. To date, the Small Business Administration has approved approximately $164 billion in EIDL loans, roughly half of its $360 billion allocation, to almost 3 million business. Of these loans, 80% were less than $150,000 and the average loan amount was just over $62,000.
Due to the high volume of loans and the relatively small size of most loan amounts, the Covid Stimulus Watch database only