SBA Disaster loan changed

[Stephen Keighery]

I just got an email about my application for the SBA economic disaster loan. It appears they have changed it from being a $10,000 advance, be being $1,000 per employee pre-Corona up to $10,000. I think they are trying to spread the money to more businesses. I was the only employee so this has made the loan much less helpful for me. Is that how everyone else sees this change?

[Natalie Kolodij]

The Original wording in the Cares act stated the advance would be 

UP TO $10,000 

People just ran with it and told everyone to apply and get their $10k of free money. 

We didn't know until recently how they would decide what amount up to $10k they would issue people and what they've decided on is $1k per employee up to the $10k.