Almost immediately after the launch of the Paycheck Protection Program (PPP) and the expansion of the Economic Injury Disaster Loan (EIDL) program to counter the economic effects of the COVID-19 pandemic, the U.S. Small Business Administration (SBA) was swamped with applications from struggling business owners. Interest in the programs exceeded — by a wide margin — the SBA’s resources, and initial funding ran out within weeks. . . . more