The American Rescue Plan Act contains a number of provisions for small businesses. Specifically, the bill provides:
- $15 billion for targeted Economic Injury Disaster Loan (EIDL) advance payments.
- National Association of Home Builders - SBA Increases Loan Limits for COVID-19 EIDL Program
- $7.25 billion for Paycheck Protection Program (PPP)
- Forbes - Why Your Small Business Should Apply For A PPP Loan Right Now
- Deadline moved from March 31st to May 31st
- Forbes - Why Your Small Business Should Apply For A PPP Loan Right Now
- $28.6 billion for restaurants, bars, and other eligible providers of food and drink in the Restaurant Revitalization Fund (RRF)
- National Restaurant Association - RRF grant applications won’t require a DUNS number
- JDSPURA - What You Need to Know About the Restaurant Revitalization Fund Grant Program
- $1.25 billion more for Shuttered Venue Operators SVOG - $15 Billion initially
- LIVE April 8
- Update – There have been multiple issues regarding application process publicized
- NY TIMES - Cultural Venues’ Quest for Billions in Federal Aid Is Halted by Glitch
- Journal of Accountancy - Shuttered Venue Operators Grant program closes for repairs on its opening day
- Facebook Group - SVOG Act Now – Discussion, comments, questions, etc. on the new program
- LIVE April 8
- Employee Retention Credit and Paid Leave Credit Programs
- Journal of Accountancy - How to claim the employee retention credit for the first half of 2021
- Other Resources
- Journal of Accountancy
- National Federation of Independent Business
- TX House Passes COVID-19 Loan Tax Bill - If passed by the Senate and signed into law, the bill would save small business owners millions of dollars in taxes.
- As of 4/7/21 – Left pending in committee
- TX House Passes COVID-19 Loan Tax Bill - If passed by the Senate and signed into law, the bill would save small business owners millions of dollars in taxes.
