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SBA announces updates to EIDL Targeted Advance grant programs
The U.S. Small Business Administration (SBA) has announced two new updates to its Economic Injury Disaster Loan (EIDL) program, as the agency works to provide further economic relief for the smallest and hardest hit businesses across the United States.
Below you will find more information about the Targeted EIDL Advance program and Supplemental Targeted Advance, which provide small grants to eligible impacted small businesses, and how you may qualify for additional financial assistance.
Targeted EIDL Advance program
Business owners who applied for a Targeted EIDL Advance but were denied can ask to have that denial reconsidered by emailing: [email protected].
The SBA's Targeted EIDL Advance program, part of the CARES Act, aims to provide business owners in underserved communities with the full $10,000 EIDL Advance. Some business owners received less than that amount during the original program last year, or didn’t receive economic relief after the EIDL Advance funds were exhausted. The SBA is now reaching out directly to such eligible business owners to apply for the Targeted EIDL Advance.
But for those business owners who were contacted, submitted their application and were subsequently rejected, are able to contact the SBA to appeal the denial by simply emailing [email protected]. Please note that this does not apply to all business owners who received an EIDL Advance—this only applies to those who submitted an application for the Targeted EIDL Advance after being contacted by the SBA this year.
- Small business owners who were denied the EIDL Advance grant should send an email to the above address and use the subject line "Reevaluation Request for ” plus your 10-digit application number.
- Include any identification information, including the application name, business name, address and owner's name, as well as the phone number in the email.
- Also include any documentation that addresses the reason the small-business owner was initially declined. The SBA said it will contact applicants if additional documentation is required to complete the review.
Supplemental Targeted Advance
Effective April 22, the SBA modified the Targeted EIDL Advance application process to determine if businesses also qualify for the additional $5,000 Supplemental Targeted Advance. SBA will contact eligible business entities to apply and applications will be processed on a first-come, first-served basis. To qualify for the Supplemental Targeted Advance, an eligible business entity must be in a low-income community, have suffered greater than 50% economic loss, and have 10 or fewer employees.