AmiSight 4/27: SBA is Up to The Unimaginable with the EIDL Program
I can't believe that I am even writing this: the SBA has reopened applications for those who have already applied to see if they want more money before the program runs out of money. As a result, tens of thousands of small business owners have received emails suggesting they apply for money if they want to.
As I have said before, the SBA is acting like a bunch of drunk corporate-type people, trying to prove they can use their budget before a calendar year ends. There is no proof of economic injury required for these programs. Its an embarrassment and puts taxpayers' money in jeopardy.
I remind everyone who has received an EIDL or is still considering getting an increase to read the fine print. There are RULES about what you can and can't use the money for. And I hate to say it – some people have – and many more will go to jail.