Walk through Rescue Plan with SBA

Our recent March 31 webinar covered new relief for small businesses in the American Rescue Plan Act. Mike McWhorter with the Small Business Kansas City district broke it down for us.

RESOURCES FOR YOU

• PPP and EIDL program updates: You can download slides covering American Rescue Plan Act supports for small businesses here: SBA-update-PPP-and-EIDL-programs-03-31-2021-PDF.pdf
• Shuttered Venue Operations Grant. Download a checklist for this new opportunity: 3-11-21-SVOG-application-checklist-508-1.pdf
• Watch the recorded webinar.

The American Rescue Plan Act provides additional relief for the nation’s small businesses and hard-hit industries for programs the SBA is currently administering and adds new efforts, including:

• $7.25 billion additional for the Paycheck Protection Program, including to expand eligibility to additional nonprofits and digital news services
• Additional funds are allocated for the Shuttered Venue Operators Grant program, and now allows businesses to apply for both a PPP loan after Dec. 27, 2020, and the SVOG
• $15 billion additional for Targeted Economic Injury Disaster Loan Advance (EIDL) payments, including NEW $5 billion for Supplemental Targeted EIDL Advance payments for those hardest hit
• NEW: $28.6 billion for the Restaurant Revitalization Fund for industry-focused grants
• NEW: $100 million to establish a Community Navigator pilot program; grants will go to eligible organizations supporting efforts to improve access to COVID–19 pandemic assistance programs and resources.

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