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Deadline For SBA’s $15,000 (and Other Loans) is Today
You can get up to $15,000 in money you don’t have to pay back. The SBA very strongly recommends that you apply for one or both of these loans by December 10th. It may take some time for you request to be approved
And the actual deadline is December 31st.
To be clear, it’s two different SBA loans: the Targeted EIDL Advance, which is about $10,000, and the Supplemental Targeted Advance program, which is $5,000. You can get both of these.
Cool. So, how do you get both of these?
To qualify for the Targeted EIDL Advance: your business must be located in a census-defined low income community; your business must have suffered at least a 30% economic loss due to the pandemic; and your business has to have fewer than 300 employees.
To qualify for the Supplemental Targeted Advance program: Your business must have suffered at least 50% of economic loss and your business must have fewer than 10 employees.
Again, these are due by December 31st, so you have until the end of the year… but in reality, according to the SBA, you have until the 10th.
Now, there’s also an SBA loan application due today, November 29th.
It’s the deadline to request Hurricane Ida disaster funds from FEMA.