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You business may Qulify for a covid-19 grant.

There are 2 different grant programs currently

Grant Program 1 The Paycheck Protection Program

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.The Paycheck Protection Program will be available through June 30, 2020 Who Can Apply? This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19. Businesses in certain industries may have more than 500 employees if they meet the SBA’s size standards for those industries. Small businesses in the hospitality and food industry with more than one location could also be eligible at the store and location level if the store employs less than 500 workers. This means each store location could be eligible. Loan Details and Forgiveness The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees. 

Grant Program 2 THE economic Injury Disaster Loan program

THE economic Injury Disaster Loan Grants advance of up to $10,000 up front!!

 The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.

The stimulus has set aside 10 Billion dollars.  The grants will go out on a first come first served basis.  The grants are available up to $10,000 so doing the math  that would give the first 1 million applicants the greatest chance to qualify for the $10,000 and then the grant would end

  • Don’t have to be in business for 1 year … that requirement is waived.
  • Personal Guarantees on Loans under $200k are waived.
  • Any applicant can get an advance of  up to $10k within 3 days of application approval. If denied for loan, no requirement to repay.
  • Can be used for essentially any business purpose, including, but not limited to, sick leave, payroll, increased material costs, rent/mortgage, and other obligations

 This is first come first served so act now!!

**Due to the overwhelming response we may take a while to email you the next step.  Please be patient with us.  Thank you and have a blessed day.  

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