secure plus financial
SBA COVID-19 Relief Program
Overview of the SBA COVID-19 Relief Program
- The Small Business Administration plans to start a $28.6 billion “phased” launch in April for the Restaurant Revitalization Fund
- Extending EIDL Cap from $150k to $500k starting April 6th (A work is in progress to support the system cap up to $2M)
- SBA agreed ARP granted “true-up” to small businesses that only received $1k instead of $10k
- The SBA will give priority to informational emails to Low-Income Communities (Priority 1) about the increase in the EIDL advance
- Small Businesses who did not have funding prior to July 2020, will receive invitations via email
- Non-profits lending limit for COVID-19 EIDL increased (Maximum loan amount $150k up to 6-months, Maximum loan amount for economic injury $500k up to 24-months
Do you need help to review your application? Schedule a time here:
Considering applying for different funds? PPP, SVOG, or EIDL?
We’ve been helping clients with disaster relief, survival budgeting, and cash management plans since March!