How Much Can I Get From The SBA DISASTER Grants? During the first round of funding each eligible business received or may still receive up to a $10,000 Grant.
Important – There are now caps on the amount of the Grant for any business that applied After March 29th, 2020. They are as follows:
- As a result of the very high demand for these Grants, the SBA implemented a $1,000 cap per employee on the advance, up to a maximum of $10,000.
- If you are a freelancer, this limits the advance to $1,000.
- If you are a business with five employees, then the advance would be limited to $5,000.
- If you are a business with 10 or more employees, the advance is limited to $10,000.
If you applied, please check the bank account that you provided with your application, as no advisement or notification of the funding is being sent to applicants.
If you received funds into your account in any of these denominations and the description reads close to this; Sbad Treas Misc, this is what the amount represents.
WE DON’T KNOW YET IF THE GRANTS ARE TAXABLE – STAY TUNED!!
SMALL BUSINESS LOAN APPLICATION: https://www.sba.gov/page/disaster-loan-applications
