Small Business Resources | The Aluminum Association

Small Business Resources

The CARES Act, enacted March 27, vastly expands existing U.S. Small Business Administration (SBA) programs:
  • Deferment of pre-existing SBA 7(a) loans (6-12 months)
  • $10 billion for SBA Economic Injury Disaster Loan (EIDL) “bridge” (up to $10,000 within 3 days)
  • Establishes the “Paycheck Protection Program” (PPP)
Collectively, the measures widen the pool of eligible businesses and provide additional assistance to companies struggling to maintain operations and keep employees on the payroll. You can find an Association summary of these changes HERE, or visit You can also find state small business resources HERE.
On April 24, President Trump signed the Paycheck Protection Program and Health Care Enhancement Act into law. The Act provided needed relief to CARES Act programs for small businesses in the form of:
  • $310 billion in additional funding for SBA’s PPP, with $60 billion set aside for smaller institutions
  • $50 billion in additional funding for SBA’s EIDL loans
  • $10 billion for EIDL Advance grants

On June 5, President Trump signed The Paycheck Protection Program Flexibility Act (HR 7010). This bill will provide flexibility to those navigating the terms of the SBA’s PPP program in the form of:

  • Extending the PPP loan forgiveness period to include costs incurred over 24 weeks after the loan is issued. Businesses who received a loan prior to passage of this bill can choose to keep the 8 week forgiveness window under the original program structure.
  • Borrowers will now be allowed to defer principal and interest payments on PPP loans until the SBA compensates lenders for any forgiven amounts.
  • Lowers the required percentage of forgiven loan amounts that come from payroll expenses from 75% to 60%, extends the deadline to apply to December 31, 2020, and allows forgiveness amounts to be maintained for companies that can document their inability to rehire workers employed who were employed as of February 15 or their inability to find similarly qualified workers by the end of the year.
  • Forgiveness amounts can also be maintained if business can show that they could not resume business levels from before February 15 because they were following federal requirements for sanitization or social distancing.

For more information and updates, visit and


SBA Paycheck Protection Program

The Paycheck Protection Program authorizes $349 billion in loans (including forgiveable loans) for qualifying small businesses to use for job retention and certain other expenses. Individuals who are self-employed or are independent contractors are also eligible if they also meet program size standards. An overview of the program is available HERE, and a Fact Sheet for borrowers is available HERE

Note: On Friday, May 1 the IRS issued notice 2020-32 that outlines that buisnesses will not be able to deduct expenses paid for by forgiven PPP loans.

Do I Qualify as “Small”?

Be sure to check the size standards for your industry using the NAICS codes outlined here. Once you have obtained your NAICS code, you can use the SBA’s Size Standards tool to determine if you qualify for SBA programs. For example:
NAICS Codes NAICS Industry Title Size Standard in millions of Dollars (if applicable) Size Standard in numbers of employees (if applicable)
331313 Alumina Refining and Primary Aluminum Production - 1000
331314 Secondary Smelting and Alloying of Aluminum - 750
331315 Aluminum Sheet, Plate, and Foil Manufacturing - 1250
331318 Other Aluminum Rolling, Drawing, and Extruding - 750
331524 Aluminum Foundries (except Die-Casting) - 500
In addition to meeting the numerical standards for “small,” a business must:
  • Be a for-profit business of any legal structure
  • Be independently owned and operated
  • Not be nationally dominant in its field
  • Be physically located and operate in the U.S. or its territories
  • Businesses outside the U.S. may still be counted as small if they have an operation in the U.S. that makes a significant contribution to the U.S. economy through payment of taxes or use of American products, materials or labor.

Please note, the provisions of the Families First Coronavirus Response Act (FFCRA) that obligate employers with less than 500 employees to provide paid sick leave and expand the Family and Medical Leave Act (FMLA) do not follow the SBA guidelines for a "small concern" but have a hard threshold at 500 employees. 

Export-Import (Ex-Im) Bank

Aluminum producers and manufacturers may also find useful resources at the U.S. Export-Import Bank, an independent federal agency that facilitaites exports of U.S. goods with loans and loan guarantees. If you and/or your U.S. customer is an exporter, the Ex-Im Bank has expanded a number of its programs (like supply chain financing or export credit insurance) that can be beneficial for manufacturers. You can find more informationa at

(Updated April 8, 2020)


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