On July 11, the U.S. Small Business Administration announced the conclusion of the EIDL Advance program, which provided U.S. small businesses, non-profits and agricultural businesses a total of $20 billion in emergency funding. In order to assist the greatest number of small businesses, the EIDL Advance provided $1,000 per employee up to a maximum of $10,000. Recipients did not have to be approved for a loan to receive the Advance, and the Advance provided an interim but vital source of funds while applicants awaited a decision on their loan application.

EIDL loan applications will still be processed even though the Advance is no longer available. Visit https://www.sba.gov/funding-programs/disaster-assistance to get more details and to apply.

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