Targeted EIDL Advance & Supplemental Targeted EIDL Advance

Applicants for the COVID-19 Economic Injury Disaster Loan (EIDL) may be eligible to receive up to $15,000 in funding from SBA that does not need to be repaid. These “advances” are similar to a grant, but without the typical requirements that come with a U.S. government grant. (Per the SBA- click here for more information).

The Targeted EIDL Advance provides funds of up to $10,000 to applicants who:

  •  Are in a low-income community.
  • Can demonstrate more than 30% reduction in revenue during an eight-week period.
  • Have 300 or fewer employees.

The Supplemental Targeted EIDL Advance provides funds of up to $5,000 to applicants who:

  • Are located in a low-income community.
  • Can prove more than a 50% economic loss during an eight-week period.
  • Have 10 or fewer employees.

To verify if your business is in a qualified low-income community, you can utilize the SBA’s Mapping Tool.

To learn more about the Advance & Supplemental Advance and how to apply, click here.

 

 

 

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