Blue-Ribbon Accounting & Tax, Inc.

SBA Rolls Out New $5B Grant Program for Small Businesses

Small businesses and nonprofit groups hardest hit by the coronavirus pandemic now are eligible for additional support under a $5 billion Small Business Administration program.
The new round of Economic Injury Disaster Loan assistance, known as Supplemental Targeted Advances, is available for up to 1 million small businesses and nonprofits with no more than 10 employees.
To qualify, applicants must be located in a low-income community; suffered greater than a 50% economic loss over an 8-week period since March 2, 2020 compared to the previous year; and have 10 or fewer employees.