Targeted EIDL Advance Begins

The Small Business Administration began rolling out the Targeted Economic Injury Disaster Loan Advance Feb. 1, which provides businesses located in low-income communities with additional funds.

Applicants located in low-income communities who previously received an EIDL Advance for less than $10,000 will have first priority to apply for the Targeted EIDL Advance and will be the first group to receive email invites to the application portal. Those who applied for an EIDL Advance, but did not received funds due to a lack of program funding are in the second priority group.

The SBA will reach out to those who qualify. Applicants do not need to take any action at this time. Applicants must wait until they receive an email invite from the SBA to apply for the new Targeted EIDL Advance. The SBA began sending email invites Feb. 1. It may take several weeks before all emails are sent to businesses in the first priority group. The SBA will announce a projected start date for the second priority group at a later date.

All communications from SBA will be sent from an official government email with an @sba.gov ending. Please do not send sensitive information via email to any address that does not end in @sba.gov.

For more information, click here.

To read the answers to frequently asked questions, click here.