The Small Business Administration bungled the administration of the CARES Act coronavirus stimulus. They allowed big corporations to get the stimulus through a stupid loophole. In any other time, with any other organization, this loophole and more importantly, its allowance, would be, if not understandable, at most be frowned upon. 

But in a public health crisis when millions of small businesses suddenly find their finances sundered into nothing and their livelihood on the edge, it is utterly, feverishly unacceptable that the one organization geared towards understanding and serving them would allow a loophole to rob hardworking small business owners from very much needed lifeline. 

Imagine the Veterans Administration prioritizing civilian care over our veteran heroes through a loophole. Outrage would ensue. The SBA should be ashamed of itself. 

A second stimulus package was issued, thankfully, and many of those big businesses have returned their ill-advised receipts from the first stimulus. However, that does not mean there are sufficient funds for every small business. 

There are 31 million small businesses in the United States, the giant portion of which have been affected. With the PPP provision at 2.5x payroll amount, some businesses will get it, some will not. Additionally, with the SBA allowing banks to play favorites with bigger small businesses, and the way the upload of loan applications to the SBA disproportionately, negatively affects smaller businesses, the chances of getting a loan, either the PPP or the EIDL for smaller businesses is tiny at best. 

With the threat of financial ruin a week, two, three weeks away, most do not have the luxury of hoping and praying the SBA does the right thing.

If you don’t have the time to wait for SBA to grant your loan, you need other options for coronavirus relief grants, don’t you? Here are some to consider.

Facebook Small Business Grant: 

https://apply.facebook.ureeka.biz/prog/facebook_smb_4/

Local Initiatives Support Corp (LISC) Small Business Relief Grants

https://www.lisc.org/covid-19/small-business-assistance/

Be sure to apply to these grants as soon as possible as they are granted always on first come, first served basis. 

We’re scouring resources to bring you more information regarding grants out there that can help you stay afloat. Please stay safe and don’t forget to wear your masks.