SBA SMALL BUSINESS LOAN | GRANT STIMULUS PROGRAM
In response to the Covid-19 pandemic which has swept our country, the United States Government working closely with the Small Business Administration, has implemented a Stimulus & Relief Package. This Stimulus & Relief Package is designed to assist any small business* which fits into the broad categories listed below.
Although highly publicized, you may be unaware of the specific details of this program or how to apply for grant consideration. We have been working diligently to consolidate all the information available and make it available to you in a simple & concise format. We are here to help!
SMALL BUSINESS REQUIREMENTS
- Agriculture: Maximum of $750,000 in average receipts.
- Mining: Maximum of 250 to 1,500 employees depending on subsector within mining.
- Utilities: Maximum number of employees ranges from 250 (for renewable electric power generation subsectors) to 1,000 (for electric power and natural gas distribution businesses).
- Construction: Maximum of $36.5 million in average receipts.
- Manufacturing: Maximum number of employees ranges from 500 to 1,500 (with approximately 27% of all manufacturing businesses having a maximum employee cap at 500 employees).
- Wholesale Trade: Maximum number of employees ranges from 100 to 250.
- Retail Trade: For one-third of all retail trade sub-industries, size standards are set at $7.5 million in average annual receipts. Other industries are defined by 100 to 500 employee maximums.
- Transportation and Warehousing: Maximum number of employees ranges from 500 to 1,500. Some sub-industries in transportation and warehousing are defined by a range of $7.5 million to $37.5 million in average annual receipts.
- Information: Maximum number of employees ranges from 500 to 1,500, depending on the sub-industry. The maximum average annual receipts for this industry ranges from $7.5 million to $38.5 million.
- Finance and Insurance: A maximum of 1,500 employees (for direct property and casualty insurance carriers), and a maximum in average annual receipts ranging from $32.5 million to $38.5 million.
- Real Estate, Rental, and Leasing: A maximum of $7.5 million to $32.5 million in average annual receipts.
- Professional, Scientific, and Technical Services: A maximum of $7.5 million to $20.5 million in average annual receipts, or a maximum of 1,000 to 1,500 employees.
- Health Care and Social Assistance: A maximum of $7.5 million to $38.5 million in average annual receipts.
WHAT YOU NEED TO KNOW
Emergency EIDL grant of up to $10,000 is forgiven. Grant must be used for the following expenses:
GRANT | LOAN
Grant / ForgivenessEIDL: The Economic Injury Disaster Loan includes a $10,000 emergency grant to be made within three days of application. These grants do not have to be repaid as long as funds are used for: