FUNDING SOURCES FOR MANUFACTURERS & SUPPLIERS
Funding is a common necessity for most advanced manufacturing & materials companies, especially small businesses. To help with this, UAMMI has compiled this list of funding sources we are aware of. This list consists of both emergency funding, for those affected by COVID-19, as well as more traditional programs.
COVID-19 Federal Small Business Guidance
Because of the COVID-19 pandemic the federal government is providing guidance to small businesses to bridge this economic emergency.
SBA Lending Assistance Authorized in CARES Act
SBA has been actively updating and issuing guidance for accessing lending programs authorized under the CARES Act. regarding the following:
- Economic Injury Disaster Loans for small businesses and nonprofits (EIDL)
- Economic Injury Disaster Loan Advance to complement EIDL
- Debt Relief for existing Disaster loans (such as those received for past natural disasters)
- Paycheck Protection Program
- SBA Express Bridge Loans
Visit SBA webpage for additional guidance for businesses and nonprofits, including links to apply online (for EIDL and EIDL Advance) and/or where to find authorized lenders (e.g. for PPP and other SBA guaranteed loans) and technical assistance to help with all the above.
Rural Disaster Recovery Resources through USDA and EDA
These resources will generally be disbursed through state and local authorities-not directly to businesses.
The 7(a) loan program is the SBA’s primary program for providing financial assistance to small businesses. Lenders work with the SBA to provide financial assistance to small businesses through government-backed loans.
Current and Upcoming SBIR Grants
This program encourages small businesses to engage in federal research and development that has the potential for commercialization. Generally, your product must be technology-based and be in research phase or prototype phase.
|Federal Entity||Due Dates|
|NIST Phase II||5/26|
|USDA Phase II||5/27|
|DOD-Navy Phase I||5/28|
|HHS Phase II||6/10|
|USDA Phase I||10/01|
|NSF Phase I||12/03|
The SBA works with federal agencies in order to award 23 percent of prime government contract dollars to eligible small businesses. It also offers counseling and help to small business contractors. Procurement Technical Assistance Centers (PTACs) help small businesses that are interested in government contracting. PTACs can help determine if your business is ready for government contracting, register in the proper databases, find and bid on contracts, and more.