SBA has just released the plan for round 2 of EIDL Grant funding. SBA will be working on what they call "Targeted EIDL Advances". These targeted businesses will be those who: applied in round one and received less than $10,000 grant funds, or those businesses who applied for grant funds and were not awarded grant funding due to depletion of funds at the time of application.
So what's next? Well, according to SBA, you do nothing. If you are apart of the bunch who's applications will be reviewed for reconsideration the SBA strongly suggests you NOT contact them and do not submit a new application. They will be reviewing previously submitted applications and contacting applicants to request additional information if eligible.
Applicants under review
who operate a business in a low-income community according to the what SBA defines as low-income community (more details to come). Your business must also demonstrate a 30% loss in revenue during a 8-week period beginning the term of March 2, 2020 or later and must less than 300 employees.
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