EIDL Grant Program – What you need to know
Are you a small business owner looking to expand your company? If so, the EIDL Grant Program may be for you. The EIDL Grant Program is designed to help businesses grow through strategic planning and priority investments in their operations.
What is the EIDL Grant Program?
The EIDL Grant Program is a great opportunity for business owners. The program provides grants to small, disadvantaged businesses that are in the manufacturing or service sectors. It’s part of the U.S Small Business Administration’s (SBA) plan to help these businesses grow and create jobs in their communities.
Who can apply for an EIDL grant?
Eligible companies and organizations must have been in business by Jan. 31, 2020. Organizations that can apply include businesses that have 300 employees or less, nonprofits, cooperatives, employee stock ownership plans (ESOPs), sole proprietors, independent contractors, tribal businesses, and agricultural operations.
Here’s a terrific article to help you determine if you qualify: https://www.score.org/resource/new-10000-eidl-grants-do-you-qualify
How to apply for an EIDL grant?
Go to SBA’s disaster loan assistance page and fill out an application. https://covid19relief.sba.gov/#/
What are some of the benefits of applying for an EIDL grant?
EIDL grants are an excellent opportunity for business owners to invest in their own businesses and increase their revenue. With the EIDL grant, recipients can use the loan as working capital. This means any day-to-day expenses are allowed with your EIDL funds. It could pay for:
- Web hosting
- Bookkeeping and accounting services
- Inventory
- Office supplies
- Merchant fees
- Accounts payable
- Rent and utilities
Where to go if you have more questions about the program or how to apply
Halsey Resources is here for you.
Please reach out if you have questions regarding the EIDL Grant Program and how it might benefit your business or organization.
