Both are correct, but the sentences have different meanings.
The first one means that she didn't get the subsidy yet and it's profitable for him if she will not get.
The second one implies that she hasn't got the subsidy and this fact is profitable for him.
I do not claim that my opinion is absolutely true. If you've spotted any mistake in my English, please, correct it. I want to be aware of any mistakes to efficiently eliminate them before they become a habit.