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Join Date: Jul 2013
Location: Delphos OH
Posts: 32,370
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Interesting SBA disaster relief loan for business w/ less than 500 employees

A friend told me about this loan. Its a loan through the SBA with a 10K advance that apparently does not have to be repaid.
"This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available following a successful application. This loan advance will not have to be repaid."

I can't help but wonder what prevents a business like mine that really hasn't been affected from applying and receiving the 10K. I'm considering making an application and if I receive the 10K identifying a few local businesses that need the money and giving it to the owners. OTOH I feel like I shouldn't apply and keep the funds available for those who actually need it.

If you know any small business owners that have been affected you might direct them to: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance
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Old 04-04-2020, 05:31 AM
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