Major updates on Relief Programs - PPP, RRF + more

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Pacific Northwest Region - May 6, 2021

u s small business administration
Customer picking up takeout from a small business owner


What are the biggest updates from each SBA COVID-19 Relief Program? 

Scroll down for the latest on each SBA Relief Program along with other important news and updates.

 

paycheck protection program, PPP


PPP loans are now only available through participating Community Financial Institutions (CFIs).

After serving more than 8 million small businesses, general funding for the Paycheck Protection Program (PPP) has been exhausted. The SBA will continue funding outstanding approved PPP applications, but new qualifying applications will only be funded through a set-aside for Community Financial Institutions (CFIs). This includes Certified Development Companies (CDCs), Microlenders, Community Development Financial Institutions (CDFIs), and Minority Depository Institutions (MDIs) until May 31 or until funds are exhausted.

A list of eligible CFIs is available on the SBA website. Please note that not all institutions listed are currently participating in PPP. You can also contact your local district office for assistance.

Find eligible lenders

 

RRF


SBA is actively accepting applications for the Restaurant Revitalization Fund.

The SBA is currently accepting applications for the Restaurant Revitalization Fund (RRF). In fact, more than 186,000 applications have been submitted in the first couple days.

While all qualified businesses are allowed -- and encouraged -- to apply now, under the law the SBA will prioritize RRF applications from small business concerns owned and controlled by women, veterans, and socially and economically disadvantaged individuals for the first 21 days of the program. Following the 21-day period, all eligible applications will be funded on a first-come, first-served basis.

For more information about eligibility, how to apply, and other details -- including program information in more than 30 languages -- visit the SBA website or call the support hotline at 1-844-279-8898.

Apply for Restaurant Funds

 

 

eidl


Funding still available for new or increased Economic Injury Disaster Loans (EIDL) 

Whether you have an existing COVID-19 Economic Injury Disaster Loan (EIDL) and want to apply for an increase; or are interested in applying for an initial COVID-19 EIDL, funding is available for loans up to $500,000. 

For more information on eligibility, use of proceeds, and loan terms, visit the SBA website.

Details on EIDL

 

Shuttered Venue Operators Grant Program


SBA continues to accept applications for the Shuttered Venue Operators Grant (SVOG)

Since the SVOG portal opened April 24, more than 10,000 applications have been submitted to the SBA. Interested applicants can receive application support from an SBA Resource Partner; and, can contact 1-800-659-2955 for technical assistance with the application portal.

Details about the program -- including eligibly, video tutorials, and how to apply -- are available on the SBA website.

More about SVOG

 

 

languages


COVID-19 Relief Program information is available in a multitude of languages.

To ensure equitable access of SBA programs to all small business owners, the SBA provides COVID-19 Relief Program information in the following languages:

View all languages

 

local assistance, resource partners, coronavirus, get free virtual counseling, mentoring, and training


Connect with SBA Resource Partners for help moving your business forward.

Whether you need technical assistance to apply for funding or want a business adviser to help you devise a recovery plan, SBA Resource Partners provide businesses with the expertise needed to confidently move forward.

Find an adviser

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