A program to provide grants to small businesses awaiting a decision on their Economic Injury Disaster Loan (EIDL) applications closed after exhausting $20 billion in emergency funding provided to it by Congress, the Small Business Administration (SBA) announced Saturday, July 11.
The EIDL Advance program provided businesses with $1,000 per employee up to a maximum of $10,000. The funds went to nearly 6 million small businesses, including not-for-profit organizations, sole proprietors, independent contractors and others. Learn more.