SBA still has billions of dollars left in this EIDL grant program. But time is running out.

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The Small Business Administration still has tens of billions of dollars left in its Targeted Economic Injury Disaster Loan Advance grant program — and just two full months remaining for small business owners to claim it.

So far the $10,000 grant program has funded 447,473 grants for a total of about $3.8 billion, according to SBA data through October 21.

That is just a tiny fraction of the $30 billion Congress approved for the $10,000 grant program. And while early data showed enormous need from small businesses for the grant program, a stipulation that businesses must be located in low-income areas has dampened its utility. That requirement has left small-business owners outside those borders frustrated, even if they initially received a partial grant in 2020.

Read the full story on cleveland.com’s sister site, Cleveland Business Journal.

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