SBA Disaster American Rescue Plan Act Elevates Small Business Support

Kansas City District Office  - March 2021

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On March 11, 2021, President Biden signed the American Rescue Plan Act into law, which provides additional relief for the nation’s small businesses and hard-hit industries for programs the SBA is currently administering and adds new efforts. Specifically, the new law includes:

  • $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.

Learn more 

 

paycheck protection program, PPP

Updates: Paycheck Protection Program Website

Get help with your PPP loan page (Spanish version), including info about PPP webinar series

Updated First Draw (SP), Second Draw (SP), and Lenders (SP) pages to reflect new rules/docs below:

New PPP IFR

Revised First Draw and Second Draw forms (fillable versions coming tomorrow, translations after that)

New First Draw and Second Draw forms for Schedule C filers (fillable versions coming tomorrow, translations after that)

Revised PPP FAQs (translations coming)

Revised PPP First and Second Draw lender forms

 

Shuttered Venue Operators Grant Program

The Shuttered Venue Operators Grant 

The SVOG program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, signed into law on December 27, 2020. The program includes $15 billion in grants to shuttered venues, to be administered by the SBA’s Office of Disaster Assistance.

Eligible applicants may qualify for SVO Grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.

Who can apply

  • Live venue operators or promoters
  • Theatrical producers
  • Live performing arts organization operators
  • Relevant museum operators, zoos and aquariums who meet specific criteria
  • Motion picture theater operators
  • Talent representatives, and
  • Each business entity owned by an eligible entity that also meets the eligibility requirements

Other requirements of note:

  • Must have been in operation as of February 29, 2020
  • Venue or promoter must not have applied for or received a PPP loan on or after December 27, 2020

How to apply

SBA is in the process of setting up the grant program and is not yet accepting applications. Those who have suffered the greatest economic loss will be the first applications processed under the following schedule:

Note: On January 20, 2021, SBA updated the proposed plan for issuing Shuttered Venue Operators Grants during the first and second priority periods. To clarify, priority awardees will not need to satisfy the small employer set-aside. During the first 59 days of opening the SVO Grants, SBA will reserve no less than $2 billion of program funding for grants to entities that have no more than 50 employees

Video tutorials

 

EIDL

SBA TARGETED EIDL ADVANCE

Economic Injury Disaster Loans

Translations of COVID-19 EIDL FAQs are now posted in the language library. As a reminder, the English version at the top matches the translated versions below to help you find a specific document. We also have a document landing page for Spanish and the other 16 versions.

SBA offers Economic Injury Disaster Loans to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage. The deadline to apply for an SBA economic injury disaster loan is July 27, 2021.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

 

Targeted EIDL Advance Mapping Tool

The Targeted EIDL Advance provides businesses located in low-income communities with additional funds to ensure small business continuity, adaptation, and resiliency. Applicants do not need to take any action at this time. SBA will reach out to those who qualify. To help applicants determine if they are located in a low-income community as defined in section 45D(e) of the Internal Revenue Code, a lookup tool is now available at https://sbaeidl.policymap.com/app. Note that the business address must be located in a low-income community in order to qualify, so SBA encourages potential applicants to check the map to see if they meet the low-income community eligibility requirement before you apply.

Targeted EIDL Advance

Criminals have taken advantage of the COVID-19 Economic Injury Disaster Loan (EIDL) program by using stolen information to get loans in someone else’s name, or in the name of that person’s company. If you or your business is billed for an SBA EIDL you don’t owe, the SBA has new guidance about reporting the fraud, and the FTC has tips to help you clear up any credit problems it may cause.

Learn more

 

Beware of malicious COVID-19 phishing

The SBA only communicates from email addresses ending in @sba.gov. If you are being contacted by someone claiming to be from the SBA who is not using an official SBA email address, you should suspect fraud.

Learn more


SBA celebrates Women's History Month

During Women’s History Month, we look back on the many accomplishments women business owners have made while also taking stock of the challenges and adversity they continue to overcome during these extraordinary times. SBA is prioritizing the continued advancement of opportunities for women-owned businesses through a variety of programs. Take advantage of the following resources SBA has to help you start, grow, expand or recover your business.

 

 

 

For continued updates business owners and nonprofit organizations should subscribe to the SBA Kansas City District Office news at Kansas City District Office and follow us on Twitter @SBA_KansasCity as information will be updated as it changes. SBA’s current relief efforts can be found at www.sba.gov/coronavirusrelief, and more details about these program updates and new efforts the SBA will administer in the coming weeks.