Stimulus Grant Small Business

In march congress passed the 2 trillion dollar coronavirus aid relief and economic security cares act a stimulus package that includes several programs aimed at small businesses impacted by the covid 19 outbreak.

Stimulus grant small business. The consolidated appropriations act 2021 contains a new round of stimulus aimed at mitigating the continuing economic impact of the covid 19 pandemic especially for small businesses. Demand for the popular paycheck protection program ppp has been massive since the application window opened on april 3. Eidl grant for small businesses will be 1 000 per employee per sba clarification.

The second stimulus bill the economic aid to hard hit small businesses nonprofits and venues act has been passed by congress and signed into law by president trump. The stimulus package is finally here with just days left in 2020. This program which offers long term 30 year fixed rate 3 75 loans up to 2 million to businesses in pandemic affected areas essentially the entire country has been given an additional 20 billion.

A first grant can be up to 10 million and a second grant could be up to 50 of the first grant. Recent guidance from the small business administration suggests that the up to 10 000 eidl grants for small businesses with be 1 000 per employee maxing out at 10 000 for businesses with 10 employees. It s a giant last minute bill some 5 593 pdf pages long but.

Small businesses and nonprofits would receive a total of 20 billion in economic disaster grants to help them survive the coronavirus pandemic under the stimulus package to be voted on by congress. There are also new grant opportunities under the sba s economic injury disaster loan program.