SBA Announces PPP and EIDL Loan Programs are Out of Money

Advocacy
Published

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.

Subscribe to NAHBNow

Log in or create account to subscribe to notifications of new posts.

Log in to subscribe

Latest from NAHBNow

Workforce Development | Membership

Jul 11, 2025

Maine HBA Brings Real-World Training to State’s Future Builders

Recognizing an aging workforce and a critical need for new talent, the Association has partnered with the Sanford Regional Technical Center (SRTC) to prepare the next generation of skilled tradespeople. Through HBA-led instruction, high-school students are building homes from the ground up and gaining real-world experience.

Advocacy | Tax Reform

Jul 10, 2025

What to Know About Expiring Energy Tax Credits

President Trump recently signed the One Big Beautiful Bill Act (OBBBA) into law, which significantly accelerates the termination date for federal energy tax incentives. Builders and remodelers using the credits should be aware of the new expiration dates and where necessary, consult with their tax professional for additional guidance.

View all

Latest Economic News

Economics

Jul 11, 2025

Shrinking Lots: Spec Building New Norm

The share of smaller lots remained record high in 2024, with two out of three new single-family detached homes sold occupying lots under 9,000 square feet (1/5 of an acre or less).

Economics

Jul 10, 2025

Remodeling Market Sentiment Dips in Second Quarter

In the second quarter of 2025, the NAHB/Westlake Royal Remodeling Market Index (RMI) posted a reading of 59, down four points compared to the previous quarter.

Economics

Jul 09, 2025

Mortgage Applications Picked Up in June as Rates Eased

Mortgage application activity picked up in June, supported by a slight decline in interest rates. The Mortgage Bankers Association’s (MBA) Market Composite Index, which tracks mortgage application volume, rose 5.4% from May on a seasonally adjusted basis. Compared to June 2024, total applications were up 21.1%.