***Due to the Coronavirus-related orders issued by NC Governor Roy Cooper, the GCAA office is open on a limited basis. Staff will be available for drop-in visits on Tuesdays & Thursdays and are available by appointment only on Wednesdays. Staff will also be available by phone and e-mail. We thank you for your patience as we play our part in keeping our staff and broader community safe.***

 

SBA Relaunches Cash Grant Program for Eligible Small Businesses

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COVID-19 Targeted EIDL Advance was signed into law on December 27, 2020, as part of the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act. The Targeted EIDL Advance provides businesses located in low-income communities with additional funds to ensure small business continuity, adaptation, and resiliency.

Advance funds of up to $10,000 will be available to applicants located in low-income communities who previously received an EIDL Advance for less than $10,000, or those who applied but received no funds due to lack of available program funding.

Applicants do not need to take any action at this time.  SBA will reach out to those who qualify.  SBA will first reach out to EIDL applications that already received a partial EIDL Advance (between $1,000 - $9,000). Applicants will be contacted directly by SBA via email in the coming weeks with instructions to determine eligibility and submit documentation. 

All communications from SBA will be sent from an official government email with an @sba.gov ending.

Applicants may qualify if they:

  • Are located in a low-income community. 
  • Can demonstrate more than 30% reduction in revenue during an 8-week period beginning on March 2, 2020, or later. 
  • Have 300 or fewer employees.

For more information, click here.
Click here to review the Targeted EIDL Advance FAQ.