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The SBA has now provided more than 3.7 million small businesses, collectively employing more than 20 million people with $200 billion through the COVID-19 Economic Injury Disaster Loan (EIDL) program. Eligible small businesses can apply for an EIDL until December 31, 2021.
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. SBA will reach out to those who qualify.
To help applicants determine if they are located in a low-income community as defined in section 45D(e) of the Internal Revenue Code, a lookup tool is now available. Note that the business address must be located in a low-income community in order to qualify, so SBA encourages potential applicants to check the map to see if they meet the low-income community eligibility requirement before you apply.
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