A pot of money meant to help prop up small businesses during the coronavirus pandemic has run out of funds.
The Economic Injury Disaster Loan Advance program, a federal measure offering grants of up to $10,000 to entrepreneurs, has ended after reaching the $20 billion funding limit allowed by Congress, the Small Business Administration announced Saturday.
In other words, the program successfully distributed the funds allocated to it by Congress. And by the end of June, no less! Very efficient.
Good job, now back to your other tasks, everybody.
(Link via the Springfield Business Journal, who shriekingly titles the story Emergency grant program runs out of cash.)