SBA to open Targeted EIDL Advance cash grant to all eligible businesses soon

June 8, 2021

By Andy Medici, The Business Journals

The Small Business Administration will open its $25 billion Targeted Economic Injury Disaster Loan Advance grant program to millions more small businesses in the coming days.

SBA Administrator Isabel Guzman said in an interview with The Business Journals that the dramatic expansion of the program could come early this month. Until recently, the Targeted EIDL Advance and the Supplemental Advance were by invitation only and open only to small businesses that applied for an EIDL.

The agency has already sent more than 500,000 emails to businesses that applied for an EIDL after Dec. 27, but soon it will throw open the doors to every small business that meets the eligibility criteria — namely being in a low-income area and having seen a significant drop in revenue over the course of Covid-19.

Read more about this grant opportunity at Columbus Business First: