New Stimulus Bill Gives More Money to EIDL and PPP Loan Programs

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Breaking News: The new stimulus bill has given the Small Business Administration  more money to the Paycheck Protection Program and Targeted EIDL Programs. Click here to see if you qualify.

 

 

 

 

The American Rescue Plan Act’s Small Business Assistance and Support

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 Grantprogram, 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.

For more information about the new stimulus money and small business owners visit here

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