The Small Business Administration (SBA) is granting loans for small businesses to get assistance amidst the COVID-19 crisis. If you’re planning on getting a small business grant from the SBA, you can apply for it online.
However, if you want to get grants, your business must be in certain fields. Currently, the SBA offers grants in the following industries.
- Research and Development
- Other Industries
You can get grants under other uses if you are applying on behalf of educational institutions, nonprofit, state, and/or local governments. Visit grants.gov to see what kind of grants you get can from the Small Business Administration.
Most grants are about $5,000 for small businesses. If you’re struggling at the moment and can’t keep up with your payments, SBA grants can be a good way to supplement your business operations.
Available Small Business Administration Loans
There are multiple small business administration loans that are available at the moment along with other programs. The coronavirus relief options such as paycheck protection program, EIDL, SBA debt relief, and SBA express bridge loans. We’ve already covered the PPP and EIDL on our homepage which you can read to get more details about them.