SBA Grant

The COVID-19 pandemic has caused widespread economic disruption, and independent contractors and sole proprietors have been among the hardest hit. If you are an independent contractor or a sole proprietor, you may be wondering if there is financial assistance available to help you weather this crisis. The good news is that there is: the Shuttered…

An SBA Advance is a grant program under the SBA Emergency Injury Disaster Loan (EIDL) program.  The COVID-19 pandemic has been a major challenge for small businesses, with many struggling to stay afloat during these uncertain times. To help small businesses during this crisis, the Small Business Administration (SBA) has established several programs, including the…

The answer to this question is yes, child support can take SBA grants.  The COVID-19 pandemic has been a major challenge for many families, including those that are already facing financial difficulties due to child support obligations. If you are a small business owner who has received an SBA grant, you may be wondering whether…

People turn their SBA loan into a grant because they want to receive financial assistance without having to repay the loan. A grant is a type of financial aid that does not need to be repaid, while an SBA loan must be repaid with interest. Small businesses, especially those that suffered an economic injury due…

The good news is that SBA grants are non-repayable, which means that small businesses do not have to pay back the money they receive. However, this does not mean that the SBA grants are free money, as there are certain conditions that must be met in order to receive and use the funds. For example,…

The SBA grant processing time can vary depending on several factors, including the size of the grant, the number of applications received, and the complexity of the application. In general, however, it can take anywhere from several weeks to several months for the SBA to process a grant application and issue an approval. The Small…

Yes. The Consolidated Appropriations Act (CAA), 2021, which was passed into law on December 27, 2020, featured financial support for a novel breed of Economic Injury Disaster Loan (EIDL) advance as well as financial backing for a fresh grant that specifically targets closed locations. As a result, the SBA presently provides three programs through which…

The application deadline for SBA COVID-19 EIDL Loans, Targeted Grants, as well as Supplemental Targeted Grants, was December 31, 2021. After December 31, 2021, the SBA will no longer accept requests for COVID-19 EIDL loans as well as grants. This basically entails that certain business owners in 2022 were approved for COVID-19 EIDL loans and/or…

The answer is no, you cannot receive the EIDL grant twice. According to the SBA, the grant is designed to provide a one-time payment to eligible small businesses to help alleviate the economic impact of the pandemic. If you have already received the grant, you cannot receive it again, even if your business continues to…

There really is no information available to support the number of times you can apply for an SBA Grant because the SBA does not award grants for beginning and growing businesses. Instead, the grants place Federal funds in the hands of states, municipalities, or counties to enable them to disburse to community organizations, nonprofits, as…

QuickBooks is a widely used accounting software that helps small businesses manage their finances and keep track of their financial transactions. One of the transactions that small businesses may encounter is an SBA grant, which is a form of financial assistance provided by the Small Business Administration (SBA). Recording an SBA grant in QuickBooks helps…

The Small Business Administration (SBA) offers various grants to help small businesses grow and succeed. If you have applied for an SBA grant, you may be wondering how to check the status of your application. In this blog post, we will outline the steps you can take to check your SBA grant application status and…

The Small Business Administration (SBA) Emergency Injury Disaster Loan (EIDL) Targeted Grant is a valuable program for small businesses that have been severely impacted by the COVID-19 pandemic. By providing grants of up to $10,000, the program helps these businesses cover their operating expenses and keep their doors open. If you are a small business…

The Small Business Administration (SBA) does not offer grants specifically for veterans. However, the SBA does offer a variety of loan programs that are available to veterans, such as the SBA 7(a) loan program and the Veterans Advantage program. Additionally, the SBA partners with organizations that provide grants and other forms of funding to veterans…

Grants provide funds to individuals and small businesses. The greatest feature regarding a grant would be that the finances are free; you would not have to repay the entity or establishment that provided the funds. Grants deliver cash that can assist entrepreneurs to maintain their competitive advantage in the short to medium term. Grants, particularly…

The Small Business Administration (SBA) has been offering financial assistance to small businesses affected by the COVID-19 pandemic through its various programs, including the Emergency Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP). These programs aim to help small businesses stay afloat during these challenging times and keep their employees paid. However, as…

The Small Business Administration (SBA) Economic Injury Emergency Grant Program is a vital source of financial assistance for small businesses that have been impacted by the COVID-19 pandemic. This program provides grants of up to $10,000 to small businesses that have suffered economic injury as a result of the pandemic, regardless of whether or not…

It is important to note that the US Small Business Administration does not provide grants specifically for black businesses; rather, grants are provided to nonprofits, resource partners, and academic institutions that promote business growth via guidance and mentoring initiatives. SBA is among the largest online business centers that offer details on business coaching and counseling,…

Yes. SBA grants are considered taxable income in the United States. A government grant issued to a business is included in the business’s gross income and is therefore taxable. Most often, grant funds are considered taxable income on your federal tax return. This simply entails that you will be expected to pay taxes on these…