; or (B) in the case of a business concern that has been in operation for not less than 4 months, a loss of revenue in 1 month greater than 50 percent as compared to the average of the 3 previous months; (4) can demonstrate an inability to pay obligations or stay up-to-date on accounts or payroll; and (5) submitted an application for a loan under section 7(b)(2) of the Small Business Act ( 15 U.S.C. 636(b)(2) ) and was denied assistance under such section because the small business concern is unable to repay the loan. (c) Grants The Administration shall provide assistance to eligible small business concerns, private nonprofit organizations, and small agricultural cooperatives that have suffered a substantial economic injury, directly or indirectly, as a result of COVID–19. (d) Awarding of grants and updates The Administration shall— (1) award grants under this section as expeditiously as possible; and (2) on a monthly basis until the date on which the authority under this section terminates, update the Committee on Small Business and Entrepreneurship and the Committee on Appropriations of the Senate and the Committee on Small Business and the Committee on Appropriations of the House of Representatives on— (A) the number of grants awarded under this section