Small businesses impacted by COVID-19 and hoping to receive a grant through the newly passed CARES Act must apply for an SBA Disaster Loan ASAP because only a limited number of applicants will be able to get the new grants.
Under the CARES Act, a business that applies for an SBA Economic Impact Disaster Loan now can apply in the same online session for a grant up to $10,000. Businesses that have a pending Disaster Loan application should go back to the SBA Disaster Loan website and reapply so they can be considered for the grant. The website has been streamlined and many business owners report they can get through the application in less than 30 minutes.
To apply follow this link: https://www.sba.gov/page/disaster-loan-applications