Starting on February 1, 2021, the Small Business Administration (SBA) started inviting select applicants to apply for the $10,000 Targeted EIDL Grant Application. Here's how the email looks, who's being invited first, and what's in the application. Be sure to watch our video below as well and subscribe to our YouTube channel. If you haven't checked eligibility, you can on our EIDL grant tracker.
Who's Getting the Targeted EIDL Advance Invite Emails From the SBA?
We've outlined the SBA's new guidelines in a previous post, but in short, if you've previously applied and received part of the EIDL Advance (but not the full $10,000), and the SBA thinks you're in a low-income community based on your address, you're up first.
Then if you've previously applied but didn't receive anything, and the SBA thinks you're in a low-income community based on your address, your second up.
For the rest of you, it's "wait and see" if the SBA will have funding available to consider more people. You can get a sense of your eligibility on our EIDL Tracker, for illustrational purposes only.
We've also put together a detailed post on the new eligibility details and clarifications that the SBA published on Monday February 1st.
What Do the SBA Targeted EIDL Advance Emails Look Like?
Here's what the email subject looks like and who it's sent from. Note the official sba.gov email address.
The email goes over basic instructions on qualifications (discussed in the above video) as well as important notes for you to keep in mind.
There are three new qualifications assuming you haven't already received the full $10,000 Advance: That you live in a low-income community, that you had your revenue decline by 30% or more over an 8-week period after March 2, 2020 and the previous year, and that you have 300 or fewer employees.
The email also gives information on to make sure your bank account matches your business name, and other tips to prevent delays. Then there's a green button that takes you to the Targeted EIDL Grant Application Portal.
What Do the SBA Targeted EIDL Advance Application Portal Ask For?
The Portal is fairly straight forward — similar to the original portal one would have applied through.
The first page has you verify your EIN or SSN and read a few rules.
The second page has you check around 20 verifications to confirm your eligibility to receive the Targeted EIDL Advance.
The third page you'll need to verify your previous information. Be sure it's correct especially your bank information.
And the fourth and final page will take you a few minutes. Here's how it looks:
The SBA requires you to put down monthly gross receipts for 26 months. That's 12 months for 2019, 12 months for 2020, and the first 2 months of this year. We're not sure why they're asking for February (since its the beginning of February), but it's a mandatory field, so you decide.
After that you need to attest to the information being true and correct and click Submit. Then you're all set and the ball is back in the SBA's court.
📌 If you've found this information helpful, feel free to share with others. If you want to show your support in other ways, you can follow us on Instagram or YouTube, and for sure, try out our EIDL Grant Tracker to see if you're eligible for the above and let us know what you think.
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