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FAQs About SBA EIDL Loans & Targeted Advances For COVID Relief

    Chris Motola
  • 135 comments
  • Updated on:
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Chris Motola

Chris Motola

Expert Analyst & Reviewer at Merchant Maverick
An expert in personal and business loans and financial health, Chris Motola has been writing about small business finance and payments for over 5 years. He has been cited in various industry publications, including Forbes Advisor, GoBankingRates, and Medium. Chris is a graduate of the University of Central Florida.
Chris Motola
View Chris Motola's professional experience on LinkedIn.

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135 Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Anis Miled

    If I am approved for the eidl loan . I am also will get the targeted eidl advance ( 10000$) and the supplemental targeted advance ( 5000$) . Or only the amount of the loan

      Erica Seppala

      Hi Anis!

      When you apply for the EIDL loan, you may also receive an invitation from the SBA to apply for the Targeted Advance or Supplemental Targeted Advance. If you receive an invitation, you can follow the steps provided by the SBA to apply for those grants. If you haven’t received an invitation or you haven’t applied for the grants, you will only receive the EIDL if your loan application was approved by the SBA and you decide to accept the loan. You will need to apply for the grants separately if you’re invited by the SBA. Good luck!

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