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

WASHINGTON – The U.S. Small Business Administration launched a new round of Economic Injury Disaster Loan assistance – called Supplemental Targeted Advances – on April 22, 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 on March 11.

“Many of our nation’s small businesses are still struggling to recover from the economic i...