The Small Business Administration is offering Generous Grants to Funeral Homes with less than 500 employees. A lot of funeral homes have called to thank me for letting them know about this already. Most thought the SBA loan program did not apply to them. It Does! Start NOW! This money could run out and is dependent on Congress for funding.
They are both generous and are Grants NOT Loans. I am only pointing you where to go (SBA website and your local bank), the rest is up to you. Start by going to www.sba.gov and apply for the EIDL grant. That is $10,000 in disaster assistance that the SBA is sending out immediately and it does not have to be repaid.
Then, call your local banker and apply for the Paycheck Protection Program ASAP! The money you receive does not have to be repaid and comes to you tax-free as long as you use the money for payroll, rent, mortgage interest, and utilities. The required paperwork is shorter than a job application. This money is intended for small businesses like ours that are less than 500 employees.
Example PPP Loan Scenario: Smith Funeral Home has 10 employees and they all make $4,000 per month. The average monthly payroll is $40,000 – the loan/grant amount from your bank is ($40,000 x 2.5) = $100,000. As long as you maintain normal staffing levels, the loan will be forgiven by the government and the $100,000 is yours to keep tax free.
We are all here working to make life easier for you and your families. Families love our Blankets, Cap Panels, and Custom Urns, and we are now using our sewers to make face masks. Thank you for being a partner all these years.
Sincerely,
Karl Weisenbeck
President Funeral Home Gifts
800-233-0439
Paycheck Protection Program
This loan program provides loan forgiveness for retaining employees by temporarily expanding the traditional SBA 7(a) loan program.
EIDL Loan Advance
This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.
