SBA Announces PPP and EIDL Loan Programs are Out of Money
The Small Business Administration (SBA) has announced it has run out of funding to process any more small business loans through the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan Program (EIDL) that were created under the CARES Act. These loan programs are designed to help small businesses that have been harmed by the COVID-19 pandemic.
NAHB has sent a letter to Republican and Democratic leaders in Congress urging lawmakers to act immediately to ensure sufficient resources and funding are available in the SBA's PPP and EIDL program to meet the considerable needs of the nation's small businesses, including those in the residential construction sector.
Additionally, NAHB is calling on Congress to make improvements that will help small businesses, non-profits and many housing-related firms to access this critically important program. As it stands now, the PPP excludes a large percentage of home builders and prohibits land developers and multifamily property owners from participating in the loan program.
"We believe this rule runs counter to the congressional intent of the CARES Act to help the broadest universe of small businesses, as well as congressional intent governing the SBA," the NAHB letter stated. "We ask that you call on the SBA to adhere to the congressional intent of the CARES Act to get desperately needed assistance to all small businesses."
NAHB also called on Congress to allow small non-profit trade associations across the nation, including local home builders associations, to take part in the PPP. “Amid the current economic turmoil, state and local home builder associations, most organized as 501(c)(6) non-profit entities, are losing revenue as association members retreat from professional organizations,” the letter to lawmakers stated. “Many associations have been forced to cancel home and trade shows, among other revenue-generating events, as government directives have banned mass gatherings. The federal government must step in to help all types of small businesses.”
For more information, visit nahb.org or contact Alex Strong at 800-368-5242 x8279 or Heather Voorman at x8425.
Latest from NAHBNow
Leading Suppliers Council
Dec 24, 2025
10 Ways to Turn Your Business Into a Lean, Mean Building MachineMyriad industry challenges are adding time and cost to home building projects. But with the right technology, you can better anticipate and manage those challenges to help optimize your business' performance and profits.
Sponsored Content
Dec 23, 2025
The 5 Types of Builders — and the One Built to ProsperMost builders want the same things: predictable profits, less stress, and a business that doesn’t grind them down year after year.
Latest Economic News
Economics
Dec 22, 2025
State-Level Employment Situation: September 2025In September 2025, nonfarm payroll employment was largely unchanged across states on a monthly basis, with a limited number of states seeing statistically significant increases or decreases. This reflects generally stable job counts across states despite broader labor market fluctuations. The data were impacted by collection delays due to the federal government shutdown.
Economics
Dec 19, 2025
Existing Home Sales Edge Higher in NovemberExisting home sales rose for the third consecutive month in November as lower mortgage rates continued to boost home sales, according to the National Association of Realtors (NAR). However, the increase remained modest as mortgage rates still stayed above 6% while down from recent highs. The weakening job market also weighed on buyer activity.
Economics
Dec 18, 2025
Lumber Capacity Lower Midway Through 2025Sawmill production has remained essentially flat over the past two years, according to the Federal Reserve G.17 Industrial Production report. This most recent data release contained an annual revision, which resulted in higher estimates for both production and capacity in U.S. sawmills.