What was the amount of the SBA grant that Dryject received as part of the CARES Act?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
| er 31, | _ | Amount |
|---|---|---|
| 2023 | $ | 148,217 |
| 2024 | 162,442 | |
| 2025 | 178,086 | |
| 2026 | 139,148 | |
| 2027 | 33,751 | |
| Ther |
Source: Item 8 — BUSINESS RELATIONSHIP (FDD pages 68–229)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, the company received an SBA grant as part of the CARES Act. In 2021, the SBA paid $18,000 for principal and interest to Bryn Mawr Trust Company, covering debt guaranteed by the SBA. Dryject reported $13,500, which represented 75% of the total grants, as other income in 2021.
This means that the SBA provided financial assistance to Dryject to cover debt obligations during the economic challenges of 2021. The grant directly reduced Dryject's debt burden by covering principal and interest payments. The fact that Dryject recognized $13,500 as income indicates that this portion of the grant was used to offset expenses or increase the company's financial reserves.
For a prospective franchisee, this information provides insight into Dryject's financial management and its ability to leverage government assistance programs. It demonstrates that Dryject actively sought and obtained support during challenging times, which could be seen as a positive sign of the company's resilience and resourcefulness. However, it is important to note that this was a one-time event related to the CARES Act, and future franchisees should not rely on similar grants being available.