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Supplemental Targeted Advances: A New Small Business Lifeline

We’re now well more than a year into the COVID pandemic. The good news? The U.S.’s rapid administration of vaccines bodes well for many small businesses looking to get back to some sense of normalcy.

The bad news? Many small companies are still limping pretty badly after months of shutdowns, followed by many more months of unwillingness by many customers to venture out even once businesses were reopened.

Washington has responded with a bevy of initiatives. Most notable are three separate stimulus bills that included Paycheck Protection Program (PPP) funds. And recently, the U.S. Small Business Administration launched its most targeted form of aid – a new round of Economic Injury Disaster Loan (EIDL) assistance called Supplemental Targeted Advances.

Read on as we describe this new program and help you determine whether you’re eligible.

What Are Supplemental Targeted Advances?

Supplemental Targeted Advances are a $5 billion program from the most recent stimulus bill, the American Rescue Plan Act.

These supplemental payments of $5,000 act as a follow-up of EIDL Advances and Targeted EIDL Advances. They’re aimed at the country’s smallest and hardest-hit businesses. They do not need to be repaid. And businesses can still apply for them even if they previously received the aforementioned EIDL advances.


Businesses must meet three primary criteria to qualify:

  • They must have 10 or fewer employees. Business structures covered under this initiative include sole proprietors, independent contractors, nonprofits “and others that usually qualify for the EIDL program.” However, the SBA notes that agricultural businesses such as farmers and ranchers aren’t eligible for Supplemental Targeted Advances, though they can still apply for loans via the EIDL program.
  • They must be in a low-income community. The business address itself must be located in a low-income community as defined by section 45D(e) of the Internal Revenue Code. The SBA points people toward this mapping tool to determine whether their business falls in this kind of community.
  • Can prove a high economic loss. Specifically, the business must be able to prove it sustained an economic loss of more than 50% year-over-year during any eight-week period beginning on March 2, 2020 or later. Applicants also must provide gross monthly revenue from January 2019 to the current month-to-date.

Many small businesses are struggling to get back to 100%. We understand – and we can help. McManamon & Co., a wide-ranging business services firm specializing in small and midsize firms, offers professional consulting where we can help you better understand whether your small business qualifies for a variety of business loans, grants and other funds.

Don’t miss out on critical funds your business could use to stay afloat. Call McManamon at 440.892.8900 or contact us online today!

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