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SBA | New: Targeted EIDL Advance Frequently Asked Questions

Michigan Business Network
February 10, 2021 12:00 PM

SBA Shares Resources for Black-Owned Businesses During National Black History Month

By Victor Parker, Deputy Associate Administrator for the SBA Office of Field Operations 

Victor Parker

This National Black History Month, we commemorate the 100th Anniversary of the destruction of Black Wall Street where hundreds of small business dreams were deferred in the town of Greenwood, Oklahoma. Today, Greenwood’s 1921 Commission and other small business leaders join forces to help this community rebuild and regain economic equity. SBA also celebrates the immeasurable contributions black business owners have made to entrepreneurship in this country. From key historical figures like Madame CJ Walker to well-known innovators like Oprah Winfrey, black business owners throughout history have shaped U.S. entrepreneurship and paved the way for today’s small business owners.


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Looking for more information about the Targeted EIDL Advance? Earlier this week, the SBA added a new frequently asked questions which includes information about the application process, eligibility and program criteria. 

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COVID-19: Guidance for Small Businesses  sba.gov/coronavirus


Earlier this week, the SBA put together a matrix that compares the Paycheck Protection Program (PPP), Shuttered Venue Operators Grant (SVOG) and the COVID-19 Economic Injury Disaster Loan (EIDL) eligibility. This matrix is designed to help you decide what is best for your small business.

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Coping with COVID-19

As small businesses continue the hard work of economic recovery in the wake of the COVID-19 pandemic, access to capital is paramount. For some companies and non-profits, they have exhausted their existing funding sources to sustain their operations. There are many unique funding resources available through Federal, state, and local governments in addition to philanthropy and non-profit organizations. The SBA has a free, curated list of thousands of funding sources at the national, state, regional and local levels designed to support small businesses in accessing capital to recover from COVID-19.  

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Beware of malicious COVID-19 phishing

Bad actors are using government logos in phishing emails in an attempt to steal account information. Email image links lead to websites impersonating federal agencies. Any email from the U.S. Small Business Administration (SBA) will come from accounts ending in sba.gov.

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HUBZone Program

Are you nearing the anniversary date of your firm’s HUBZone certification date? If so, it may be time for you to recertify. Recertification is a necessary program requirement, but after recertifying, you won’t need to demonstrate your eligibility for another year. Log into your General Login System (GLS) account to recertify, or email hubzone@sba.gov if you need assistance.

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COVID-19 Survey for Small Businesses

Small business owners: Take this 15-minute survey from our friends at the National Institute of Standards and Technology and share how the pandemic has impacted operations.

Take the survey


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Federal Coronavirus Resources

State, local, and federal agencies are working together to maintain the safety, security, and health of the American people. Check out coronavirus.gov for updates from the White House's COVID-19 Task Force. Go to cdc.gov for detailed information about COVID-19 from the Centers for Disease Control and Prevention.  Visit covid-sb.org, the official federal resource website for U.S. small businesses affected by COVID-19.

Learn more about the federal government's response


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Virtual Mentoring and Training 

Offices around the country may be closed due to the  pandemic, but SCORE, Small Business Development Centers, Women’s Business Centers, Veterans Business Outreach Centers and other resource partners are providing free business mentoring and training by phone, email, and video.

Find an SBA resource partner near you

Join the SBA team: Employment opportunities to support SBA's COVID-19 pandemic response


About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

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Michigan Business Network is an online broadcasting company that provides knowledge, news, and insights into Michigan’s businesses, industries, and economy.