SBA $15,000 Grant (Targeted EIDL): Do You Qualify?

Updated: Nov 11, 2021

Updated Nov. 4, 2021

Black owned small businesses impacted by COVID-19 are eligible for a Targeted EIDL Advance (grant) of up to $10,000, as well as a Supplemental Targeted Advance of $5000. These grants do not have to be repaid. The SBA is now encouraging all eligible businesses to apply by December 31, 2021 regardless of being denied or in reconsideration.

To be considered for one of these grants, your business must meet the eligibility requirements (see below) and apply (or have applied) for an Economic Injury Disaster Loan (EIDL). However, you do not have to get or accept the loan to get the grant.
Deadline: December 31, 2021 @ 11:59 PM EST

For more background information:

The CARES Act that was passed March 27, 2020 included a grant (or advance) for those who applied for an EIDL loan, in the amount of up to $10,000. The SBA later determined that those grants would be made in an amount of $1000 per employee. In addition, the funds available for grants were exhausted before all eligible businesses received them. The Economic Aid Act that passed December 27, 2020 included funding for Targeted EIDL grants, which will allow some of those business owners to get the full $10,000 grant.

The American Rescue Plan signed March 11, 2021 includes $10 billion in additional funding for these grants as well as another $5 billion to fund $5000 supplemental grants for businesses with ten or fewer employees that have suffered an economic impact of at least 50%.

Do I qualify for a Targeted EIDL grant?

To qualify for the full Targeted $10,000 EIDL grant, a business must:

  • Be located in a low-income community, and

  • Have suffered an economic loss greater than 30%, and