The Small Business Administration (SBA) wrote off $18.7B in Covid-19 Economic Injury Disaster Loan (EIDL) loans in FY 2024, down from $52B in 2023, but the program still has an unpaid principal of $277B. Regular 7(a) loans saw $646M in charge-offs in FY 2024, while Paycheck Protection Program (PPP) loans had a write-off of $2.5B in FY 2024, lower than previous years. Read more
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