We learned, via a conference phone this morning with Gil Goldberg, the Cleveland District Director of the SBA, that the $10,000 Emergency Fund Advance has CHANGED. We understand that the advance will be based on $1000 per employee, up to the maximum of $10,000 per company.
At this point, it is unclear whether you will receive the advance based on the number of employees you indicated in your submission OR whether you will receive the full $10,000 with the expectation that the portion not covered by your employee count will be expected to be repaid under the terms of a loan. As more information becomes available; we will provide immediately.
For clarification on who qualifies “as an employee”, please contact Customer Service for clarification:
SBA DISASTER CUSTOMER SERVICE - 800-659-2955 - disastercustomerservice@ sba.gov
You can deal with the challenge of duplicate submissions with the loan processor when contacted.