The restaurant industry has been among the hardest-hit sectors during the economic downturn caused by the COVID-19 pandemic. To help bring jobs back and revive the industry, the American Rescue Plan established the $28.6 billion Restaurant Revitalization Fund
– The U.S. Small Business Administration officially opened the Shuttered Venue Operators Grant (SVOG) application portal on April 8, 2021. This funding is for operators of live venues, live performing arts organizations, museums and movie theatres, as well as live venue promoters, theatrical producers and talent representatives to apply for critical economic relief, as those eligible entities are some of the first that had to shutter their doors a year ago in response to the COVID-19 pandemic.
The U.S. Small Business Administration is increasing the maximum amount small businesses and non-profit organizations can borrow through its COVID-19 Economic Injury Disaster Loan (EIDL) program.
The U.S. Small Business Administration is launching a splash page for the Shuttered Venue Operators Grant (SVOG) application portal today in anticipation of opening applications for the much-anticipated critical economic relief program on Thursday, April 8, 2021.
The U.S. Small Business Administration announced extended deferment periods for all disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until 2022.
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.
Steps to Promote Equitable Relief for Mom-and-Pop Businesses
The U.S. Small Business Administration, will re-open the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or less in assets for First and Second Draw applications on Friday, January 15, 2021 at 9 a.m. EST. The portal will fully open on Tuesday, January 19, 2021 to all participating PPP lenders to submit First and Second Draw loan applications to SBA.
U.S. Small Business Administration shares the latest PPP information.
The Raising the Bar Restaurant Recovery Fund offers approximately $3 million in reimbursement grants for up to $5,000 to eligible businesses.