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Congress Creates Relief Programs for Businesses

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A number of loan and grant programs in Phase Three (the Coronavirus Aid, Relief and Economic Security Act) are available for ready mixed concrete companies and small businesses of all sizes. For small businesses, Congress expanded eligibility for Small Business Administration (SBA) loan programs, creating the Paycheck Protection Program and beefing up the Economic Injury Disaster Loan program while dropping a number of the restrictive requirements.

  • Paycheck Protection Program - Small businesses with 500 fewer employees can receive a loan for the lesser of 2.5x their monthly average payroll from 2019 or $10 million. This can be spent on businesses expenses, but the amount spent on payroll, rent and mortgage obligations are forgivable. The program requires that companies participating retain their workforces. It is critical that NRMCA members begin communicating their need for these loans with their lenders. We expect the SBA to develop a backlog in loan applications and approvals. Here is a helpful resource guide.
  • Economic Injury Disaster Loan (EIDL) and Emergency Economic Injury Grants - This existing SBA program may provide small businesses and ready mixed concrete companies with emergency grants as well as low interest loans. Apply for an EIDL on the SBA’s website and view a resource guide provided by the Senate Small Business Committee.

It is critical that NRMCA members seeking a Paycheck Protection Program loan contact their lenders immediately. While Treasury and SBA have not yet released guidance on these, your lender will be aware and should be prepared to assist when guidance has been issued. For medium and larger businesses, loans are available on the demonstration that a company cannot access credit elsewhere, the investment is prudent and with several limitations on executive compensation, stock buybacks and dividend payments. Businesses should talk to their lenders about these loans.

For more information, contact Andrew Tyrrell at


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