You can get up to a $10,000 grant from the SBA for your small business while you wait for your larger CARES Act Paycheck Protection Program (PPP) Loan, Follow the below steps:
- Go to https://covid19relief.sba.gov/#/
- Fill out the application
- On the page titled “Additional Information”, make sure to click on “I would like to be considered for an advance of up to $10,000”
- Complete application
This grant provides an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan (EIDL). If you already filled out an application, you are still eligible for this grant, however, it has not been made clear if you need to go back and request the grant or fill out a new application.
The advance does not need to be repaid under any circumstance, and may be used for business purposes, including: to keep employees on payroll, to pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent and mortgage payments. (See p. 28, Section 1110(e)(5) of H.R. 748 (CARES Act))
You can apply for the $10,000 Emergency Funds and also apply for the CARES Act SBA 7(a) Relief as well. Click link below to get started.
Start your CARES Act SBA 7(a) Loan Application by Clicking Here.