The Economic Aid Act, signed into law on December 27, 2020, authorized the SBA to provide
additional EIDL Advance funds to certain small businesses that meet specific eligibility criteria.
Currently, these Targeted EIDL Advance funds are only available to businesses with 300 or fewer
employees that had previously applied to the SBA for EIDL assistance before December 27, 2020
and where the business address is located in a low-income community. Businesses must also
demonstrate a reduction in revenue greater than 30 percent and must meet the same eligibility
requirements applicable to COVID-EIDLs.