Ohio Small Businesses Can Get up to a $10,000 Advance on Federal Disaster Loans

According to the Small Business Administration (SBA), “small businesses can obtain up to a $10,000 advance on an Economic Injury Disaster Loan even if a previous application was denied.”

This loan advance will provide relief to businesses that are currently experiencing a loss of revenue because of the COVID-19 pandemic.

The SBA has stated that the funds will be made available within 3 days of a successful application. This advance does not have to be repaid.

The application for this advance is online and Ohio small businesses can apply by clicking here. There is no word yet on how long these reviews will take or when these advances will take place.