Growth Energy members may be eligible to apply for U.S. Small Business Administration (SBA) assistance for their small business starting immediately. Loans are available on a first-come-first-serve basis, so we recommend you look at your options ASAP.
Paycheck Protection Program (PPP) Loan
PPP provides 8 weeks of cash-flow assistance through SBA’s 7(a) loan program. These can be 100% fully-guaranteed loans meant to maintain payroll, retroactive February 15, 2020 to June 30, 2020.
On April 23, Congress approved a narrowly-tailored stimulus bill aimed at replenishing SBA’s Paycheck Protection Program (PPP). This bill gives plants a second opportunity to apply for funds, providing a $310 billion boost to PPP, including $60 billion set aside for smaller lending institutions. Other provisions in the overall Phase 4 stimulus package include:
Economic Injury Disaster Loan
SBA is also offering up to $2 million in low-interest, federal disaster working capital loans at 3.75% interest for small business. Businesses can request an advance up to $10,000 to provide paid sick leave to employees, maintain payroll, and pay other debts within three days of applying for the loan.
To achieve net-zero emissions and decarbonize the transportation sector, biofuels must be part of the solution. According to recent scientific research from @rhodium_group, #biofuels must play a role in our nation's climate agenda that @POTUS has put into place. #ClimateChange https://t.co/9QIfRdcihX
Our friends at @mncorn announced a commitment of $1 million for ethanol infrastructure grant programs. This is huge investment in the future of higher blends of ethanol, and we look forward to working together to increase access to lower-carbon fuels! growthenergy.org/2021/04/15/min…