U.S Small Business Administration: Targeted Economic Injury Disaster Loans Advance
The COVID-19 Targeted Economic Injury Disaster Loans (EIDL) Advance was signed into law on December 27, 2020, as part of the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act. The Targeted EIDL Advance provides businesses located in low-income communities with additional funds to ensure small business continuity, adaptation, and resiliency.
Applicants do not need to take any action at this time. The Small Business Administration (SBA) will reach out to those who qualify.
The Small Business Administration (SBA) will first reach out to EIDL applicants who already received a partial EIDL Advance award (between $1,000 – $9,000). SBA will then reach out to those who applied for EIDL assistance on or before December 27, 2020, but did not receive an EIDL Advance due to lack of program funding. Applicants will be contacted directly by SBA with instructions to determine eligibility and submit documentation.
Amount: Awards of up to $10,000 will be made.
Eligibility: Applicants who previously received an EIDL Advance award for less than $10,000, or those who applied but received no funds due to lack of available program funding.
- Applicants who already received a partial EIDL Advance award may qualify if they 1) are located in a low-income community, and 2) can demonstrate more than 30% reduction in revenue during an 8-week period beginning on March 2, 2020, or later (see solicitation for definitions).
- Applicants who applied but received no funds due to lack of availability may qualify if they meet the above criteria, and have 300 or fewer employees (see solicitation for definitions).
Deadline: Rolling. The Small Business Administration will reach out to eligible applicants via email, from an email address ending in @sba.gov .
|Funder||U.S Small Business Administration|
|Eligibility||For Profit Organization, Nonprofit Organization|
|Sector||COVID-19 Emergency Response, Economic Development/Job Training|
|Grant Amount||Up to $10,000|