Blinn SBDC ready to help struggling businesses
Federal economic stimulus package can provide financial help, director says
April 1, 2020
The Blinn College District Small Business Development Center (SBDC) is ready to help small business owners struggling due to the coronavirus epidemic.
The SBDC has gathered information regarding the $2 trillion stimulus approved by Congress last week, which includes direct grants to help small businesses, said Matthew Wehring, SBDC Director.
“One thing that is very significant in the package is a $10,000 grant available to most small businesses,” said Wehring. “It is a grant, not a loan that you have to pay back. Businesses must apply for it to get that money in their bank accounts.
“This could be a lifesaver for some of them.”
Wehring said the grant program has few requirements as the federal government worked quickly to provide an economic boost. The application takes approximately an hour to complete, he said.
“The size of the grant is not proportional to the size of your business, so you do not need to have $100,000 in revenue to qualify,” he said. “The government says they can get qualifying businesses the money in three business days.”
The stimulus package also includes the Paycheck Protection Program (PPP), which allows up to two months of payroll expenses for employers who meet program guidelines.
“We are available to discuss options regarding the stimulus and other economic disaster help programs,” Wehring said. “We have the resources to help determine what actions might be appropriate for a business and its situation.”
Blinn SBDC offices are closed to on-site assistance due to the coronavirus outbreak, but staff are available to assist small business owners at 979-830-4137 and sbdc@blinn.edu.
The Blinn College SBDC is a business advising and training center of the University of Houston Texas Gulf Coast SBDC Network serving 32 counties in Southeast Texas. The SBDC program is funded in part through a cooperative agreement with the U.S. Small Business Administration.
To discover how the Blinn SBDC can help your small business, call 979-830-4137 or visit www.blinn.edu/sbdc.
