The SBA’s Economic Injury Disaster Loan Advance program provides small businesses experiencing temporary difficulties or loss of revenue with economic relief up to $10,000.
- Available to any small business with less than 500 employees or businesses in certain industries with more than 500 employees if they meet the SBA’s size standards.
- Includes sole proprietorships, independent contractors and self-employed persons, private non-profit organization or 501(c)(19) veterans organizations affected by COVID-19.
- The amount of the Advance is determined by the number of your pre-disaster (i.e., as of January 31, 2020) employees. The Advance will provide $1,000 per employee up to a maximum of $10,000.
- Funds are made available within days of a successful application.
- Loan advance will not have to be repaid.
- The Advance Program is separate from Economic Injury Disaster Loan.
Find find out more and apply visit: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance