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SBA to Provide Extra COVID-19 Relief for Small Businesses

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The Small Business Administration has authorized $5 billion in additional assistance to small companies "that have been most severely affected by the economic effects of the COVID-19 pandemic."

More COVID-19 economic relief is on the way. The U.S. Small Business Administration (SBA) will provide $5 billion in additional assistance to businesses with fewer than 10 employees that have been impacted by COVID-19.

The funds - called Supplemental Targeted Advances - are being made available as part of a new round of Economic Injury Disaster Loan (EIDL) assistance.

“Many of our nation’s small businesses are still struggling to recover from the economic impact of the COVID-19 pandemic and we’ve found that the smallest businesses ... are hurting the most," says SBA Administrator Isabella Casillas Guzman. 

"The SBA’s Supplemental Targeted Advance program aims to reach those businesses with 10 employees or less who need our help today."

The funds also "will help us make sure that no small business falls through the cracks or gets left behind. This program is a crucial part of our efforts to bring businesses back, create jobs and build an equitable economy for everyone."

For additional details about the Targeted EIDL Advance and Supplemental Targeted Advance program, including qualification criteria, visit SBA.gov/eidl.

Eligible businesses can email questions about the SBA Targeted EIDL Advance and Supplemental Targeted Advance to TargetedAdvance@sba.gov, COVID-19 EIDL disaster loan payment questions to DisasterCustomerService@sba.gov, and contact SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard of hearing).

 

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