Finance

Disaster Preparedness, Finance

PPP exhausts its funding, except through CDFIs

The U.S. Small Business Administration announced today that the Paycheck Protection Program (PPP) has exhausted core funding after a year in operation and serving more than 8 million businesses. The SBA will continue funding outstanding approved PPP applications but new qualifying applications will only be funded through Community Development Financial Institutions (CDFIs) […]

Disaster Preparedness, Finance, Resources

COVID relief: SBA to distribute $5 billion in grants to hardest-hit small businesses

This just in: The SBA will begin distributing $5 billion in additional grants to small businesses hardest hit by the pandemic. The “Supplemental Targeted Advances” will go to 1 million eligible small businesses, which the SBA will begin contacting over the coming weeks. Even businesses that already received EIDL grants […]

Disaster Preparedness, Economy, Finance

COVID relief: New details about the Restaurant Revitalization Fund

Restaurants and bars are another step closer to getting financial help after experiencing devastating losses during the COVID-19 pandemic. The long-awaited opening of the Restaurant Revitalization Fund is now close finat hand. The U,S, Small Business Association has released some key details about the pandemic relief program for the  restaurant […]

Disaster Preparedness, Economy, Finance

COVID relief: Shuttered Venue Operators Grant program opens. What you need to know

UPDATE: The SBA ran into technical difficulties and has paused the Shuttered Venue Operators Grant Program while it works with the vendor to reopen the program. The Small Business Administration i launched its $16.25 billion Shuttered Venue Operators Grant program today, but the application process will go in steps. The […]

Disaster Preparedness, Economy, Finance

More restaurant relief on way via the Restaurant Revitalization Fund

It’s no secret that restaurants were one of the hardest-hit industries during the COVID-19 pandemic. The newly passed American Rescue Plan Act aims to help restaurants, bars and related businesses with a new grant program called the Restaurant Revitalization Fund. The RRF will offer $28.6 billion in grants to hard-hit restaurants and […]

Disaster Preparedness, Economy, Finance

PPP program extended but funding may run out, plus the latest with the EIDL and Shuttered Venue grants

Thousands of small businesses struggling to stay afloat because of the pandemic are getting extra time to apply for forgivable, low-interest loans. The Senate voted overwhelmingly to extend the deadline of the Small Business Administration’s Paycheck Protection Program  to May 31, and. President Joe Biden is expected to sign it […]

Disaster Preparedness, Economy, Finance, Resources

COVID relief: SBA issues new PPP guidance aimed at smallest businesses

U.S. Small Business Administration on Wednesday released new guidance on the changes to the Paycheck Protection Program. The  changes to the popular program focus on reaching the hardest-hit businesses. Here’s what you need to know about the changes in the final month of the PPP application period unless the program gets […]