Sec. 6002. Targeted EIDL advance
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In this section— the term Administrator means the Administrator of the Small Business Administration; the terms covered entity and economic loss have the meanings given the terms in section 331(a) of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (title III of division N of Public Law 116–260 ); the term severely impacted small business means a covered entity that— has suffered an economic loss of greater than 50 percent; and employs not more than 10 employees; the term substantially impacted small business means a covered entity that— employs not more than 10 employees; and is not a severely impacted small business; and the term supplemental payment means a payment— made by the Administrator under section 1110(e) of the CARES Act ( 15 U.S.C. 9009(e) ) to a severely impacted small business or a substantially impacted small business; in an amount that is $5,000; and that, with respect to a covered entity, is in addition to any payment made to the covered entity under section 1110(e) of the CARES Act ( 15 U.S.C. 9009(e) ) or section 331 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (title III of division N of Public Law 116–260 ).
The Administrator shall take the following actions: Not later than 14 days after the date of the enactment of this subsection, the Administrator shall begin processing applications for payments, and may make payments, to covered entities that have not received the full amounts to which the covered entities are entitled under section 331 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (title III of division N of Public Law 116–260 ). During the 14-day period beginning on the date that is 28 days after the date of enactment of this subsection, and subject to the availability of funds, the Administrator shall— begin processing applications for supplemental payments to severely impacted small businesses; and continue to process applications for the payments described in paragraph (1).
During the period described in subparagraph (A), the Administrator may make supplemental payments to severely impacted small businesses, and payments described in paragraph (1), in the order that the Administrator receives applications for those payments. Beginning on the date that is 42 days after the date of enactment of this subsection, and subject to the availability of funds, the Administrator shall— begin processing applications for supplemental payments to substantially impacted small businesses; and continue to process applications for the supplemental payments described in paragraph
(2)and payments described in paragraph (1). During the period described in subparagraph (A), the Administrator may make supplemental payments to substantially impacted small businesses, supplemental payments described in paragraph (2), and payments described in paragraph (1), in the order that the Administrator receives applications for those payments. In addition to amounts otherwise available, there is appropriated to the Administrator for fiscal year 2021, out of any money in the Treasury not otherwise appropriated, $15,000,000,000, to remain available until expended, for carrying out this section.
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