On April 14, the U.S. Small Business Administration (SBA) provided an update on its Economic Injury Disaster Loans (EIDL), which were approved through the passage of the CARES Act. When the Act was passed, many believed that small business owners would receive a $10,000 advance shortly after applying for a loan. In this morning's update, however, the SBA informed small business owners that the advance amount will be calculated based on an applicant's number of employees. Specifically, the advance will provide $1,000 per employee up to $10,000 total.