SBA launches supplemental targeted advance for small businesses hardest hit by COVID-19

From U.S. Small Business Administration

WASHINGTON — The U.S. Small Business Administration launched April 22 a new round of Economic Injury Disaster Loan, or EIDL assistance — called Supplemental Targeted Advances — that will provide $5 billion in additional assistance to 1 million small businesses and nonprofit organizations that have been most severely affected by the economic effects of the COVID-19 pandemic.

The Supplemental Targeted Advance program is the latest SBA relief program to launch as part of the American Rescue Plan Act.

“Many of our nation’s small businesses are still struggli...