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.
I’m throughly disappointed that @EPA failed to meet their deadline for issuing biofuel blending requirements that would lower emissions & gas prices. Keeping biofuels in the U.S. clean energy agenda means ensuring fossil fuel companies can’t keep skirting their #RFS obligations.
🛎 @EPA, today marks the statutory deadline under the RFS to issue the 2022 RVO. Failing to issue RVOs on time is a missed opportunity to address our climate challenge, provide consumers with continued lower-carbon choices at the pump, and contribute to the rural recovery. https://t.co/dheapJIHKz