This article first appeared in business magazines website.
The Small Business Administration officially closed the Payment Check Protection Program for new loan applications at the end of May, and since early July, the Restaurant Fund Fund has closed its financial support program, reducing small business owners for assistance options.
But there are still some open aid programs on the part of the government, which provide significant dollar opportunities for qualified small businesses: from COVID-19 aid programs such as SBA targeted EIDL Advance and community browser pilot programs to rural programs. Strong Economic Grant and American Seed Fund. Here is what small business assistance programs and small business owners need to know about each of them.
SBA targeted EIDL advancement program
This assistance program provides up to $ 10,000 to small business owners most affected by the COVID-19 epidemic. Smaller businesses may qualify for an additional $ 5,000 grant through SBA Supplement.
Although it has $ 30 billion in target growth, the agency has provided more than $ 2 billion in funding, leaving many in the program. The SBA launched the EIDL Advance on June 14 for all eligible businesses, but small business owners must apply for a risk of economic risk loan, even if they do not have to accept the loan once it is approved.
SBA closed space operators gift program
Billions of dollars still remain in the program, which originally opened in April but had to be closed again before it could be opened to applicants. It received 14,884 applications for $ 11.7 billion – more than $ 16 billion for the program, with congressional data available by July 6.
However, the agency has been slow to send the money, with 4,2222 grants estimated at $ 3.2 billion and $ 2 billion so far.
Interested applicants can obtain further details and apply here.
SBA Community Sensor Pilot Program
S.B.A. It has already extended the deadline for this $ 100 million grant program to connect small businesses to SBA support and programs.
The Community Browser pilot program provides $ 1 million to $ 5 million in support for community consulting, networking, and informal communication for agency resources.
The first deadline for applying for these benefits was July 12, but that was extended to July 23. The agency expects to present awards under the program in September.
Interested organizations can go here to learn more about the program and how to apply.
Rural Innovation Strong Economic Gift Program
The Department of Agriculture is providing up to $ 2 million to help build new businesses and create high-paying jobs in rural areas.
The $ 10 million grant program is open to nonprofits, regional governments, public bodies and higher education institutions, as well as economic partnerships in rural and vocational programs. The grant money can be used to build or support a business invention, to provide staff training to create new jobs, to train existing employees to build skills in high-paying jobs, or to train employees for new industries.
According to USAID, the funding is at least $ 500,000. Applications are due no later than August 2, 2021.
Gift applicants can contact their local USDA Rural Development Office for more information about the program or how to apply.
American Seed Fund supported by the National Science Foundation
The grant program, which is open to start-up companies that need to prove their technology and market capability, has provided 3,400 prizes to startups and small businesses since 2012, with 153 outsourcing and $ 9.1 billion in private investment.
It sponsors an estimated 400 companies each year in areas such as robotics, advanced materials, cloud computing, digital health, semiconductors and artificial intelligence, but what they really need are ideas that can change the world, says Ben Schrag. .
Applicants will be screened for their initial ideas quickly, and if they win in a more and more competitive process, they can receive up to $ 256,000 in initial funding for over $ 1 million in ongoing funding. .
Click here for more information on how to apply.
Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs
These assistance programs are highly competitive, and are intended to encourage American small businesses to participate in federal research in order to market their products. The subsidies are for one small business owned by one person and qualified for less than 500 employees.
Together, these programs cost more than $ 3.6 billion a year. There are 5,000 new prizes each year, with initial subsidies ranging from $ 50,000 to $ 250,000, and later large-scale support to build larger prototypes.
You can find more information on how small business owners can apply and which federal agencies are involved here.