In 2021, SBA's EIDL advance programs provided assistance that eligible businesses did not have to repay. Two programs had different limits:
- The Targeted EIDL Advance provided up to $10,000.
- The Supplemental Targeted Advance provided an additional $5,000, with combined advance assistance capped at $15,000.
Each had its own eligibility requirements. SBA no longer accepts new advance applications or reevaluation requests.
When assistance did not cover the expense
MCP's April 2021 article considered how businesses could address remaining inventory, vendor, and operating costs. A grant and repayable financing create different obligations. Any new financing needed to fit the business's cash flow, including its fees and repayment schedule.
For questions about an existing COVID EIDL loan, use SBA's current account and servicing resources below.
