Stimulus Grants For Small Business

You ll qualify for 1 000 per employee up to a maximum of 10 000.

Stimulus grants for small business. Congress has passed a new stimulus bill consolidated appropriations act of 2021 that contains many provisions designed to help small businesses that continue to struggle in the wake of the covid 19 pandemic. 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. 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.

Second stimulus package s relief for small businesses by stephen fishman j d. This makes the grant a better fit for very small businesses than mid sized ones who may want to concentrate on getting a ppp loan. All of these institutions provide critical grants and loans for minority owned businesses and other companies in disadvantaged areas.

The new package also sets aside 15 billion for small community banks and small credit unions as well as an additional 15 billion for mission based community lenders such as community development financial institutions certified development companies minority depository institutions and sba microloan intermediaries. Demand for the popular paycheck protection program ppp has been massive since the application window opened on april 3. Grants to be used for.

The law has created two set asides 15 billion for initial ppp loans and 25 billion for second ppp loans for small business borrowers with 10 or fewer employees and businesses located in low to moderate income lmi areas for loans up to 250 000.