The Small Business Administration has officially begun doling out $5 billion in additional grants to small businesses hardest hit by the pandemic, the agency announced April 23.
The new grants, called “Supplemental Targeted Advances,” will go to 1 million eligible small businesses, which the SBA will begin contacting over the coming weeks, the agency said. These grants will be open to small businesses even if they had already received $10,000 in its other grant programs, the EIDL Advance from March and April of 2020 or its successor program, the Targeted EIDL Advance, which the agency rolled out earlier this year.
On April 22, the SBA had modified its Targeted EIDL Advance application process to see if businesses also qualified for the $5,000 supplemental grant, and small businesses that are contacted by the agency will have their applications processed on a first-come, first-served basis, the SBA said.
