This loan provides for a $10,000 cash grant to all businesses with less than 500 employees that existed by or before January 31,2020. The “loan” does not have to be repaid if you use the funds for payroll, paid leave, increased costs due to disrupted supply chains, and/or mortgage or rent obligations. These funds will be disbursed directly by the SBA within three days once the application is approved. The application for this loan/grant is the same application used for the regular Economic Injury Disaster Loan, however, applicant have no obligation to take additional funds once they receive the advance.
This application, while seemingly easy to navigate, must be carefully completed as there is a certification section that requires you truthfully provide information. If you have any questions as to this application or need assistance with this form, we can assist you. See the form here: https://covid19relief.sba.gov/#/