Paycheck Protection Program (PPP) Updates

Notice: the Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness.

Other COVID-19 Relief Options

Despite the end of PPP loans and the Federal Reserve's Main Street Lending Program terminating on January 8, 2021, there are still financial resources available to you and your business. Check out the SBA's guide detailing Cross Program Eligibility of the below.

  • Economic Injury Disaster Loan (EIDL): The deadline to apply for a COVID-19 Economic Injury Disaster Loan has been extended to December 31, 2021. If you are a small businesses, nonprofit organization of any size, or a U.S. agricultural business with 500 or fewer employees that have suffered substantial economic injury as a result of the Coronavirus (COVID-19) pandemic, you can apply for the COVID-19 EIDL. Apply online or click here for more information.
  • Shuttered Venues Grant: The Shuttered Venue Operators Grant program provides emergency assistance for eligible venues. Click here for more information and to apply.
  • Restaurant Revitalization Fund: This program provides assistance for eligible restaurants, bars, and other food service businesses impacted by COVID-19. Click here for more information.
  • SBA Debt Relief: SBA provides a financial reprieve to existing borrowers during the pandemic. Click here to learn more.

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Financial Resources for Restaurants

For Women-Owned Businesses

 

    Additional Financial Assistance

    • American Express customers can take advantage of their American Express Financial Hardship and American Express Working Capital programs.
    • Hello Alice: Offering $10,000 grants being distributed immediately to small business owners impacted by coronavirus, as part of their mission to ensure Business for All. In addition to funding, grant recipients will receive ongoing support from the Hello Alice community.
    • Honeycomb: Helps deliver the working capital that businesses need by offering 45-day payment free periods, 6-month interest-only periods and reducing posting, success and investor fees.
    • Kiva: Offering 0% interest loans, expanding loan eligibility for more businesses in the US, increasing their maximum loan threshold from $10,000 to $15,000 and extending their grace period to up to 6 months for new borrowers.
    • Mainvest: Crowdfunding platform MainVest announced its new Main Street Initiative: a $2,000, zero-interest, 120 day loan for restaurants or other brick and mortars affected by the shutdown. Launch a capital raise on Mainvest and you may be eligible for the zero-interest $2,000 loan.
    • Opportunity Fund: Opportunity Fund, which specializes in money lending to small businesses owned by women, immigrants and people of color, is collaborating with investors and nonprofits to put together a coronavirus relief fund that will provide grants and low-interest rate loans.
    • The Small Business Relief Initiative: The Small Business Relief Initiative was started by GoFundMe to help small businesses that have been affected by the COVID-19 pandemic and empower their communities to rally behind them. GoFundMe has partnered with Yelp and Intuit QuickBooks to provide small business owners with the financial support and resources needed to continue running their businesses during and after the coronavirus crisis.

    Updated 8/2/2021

    *Please note that we do not certify as to the availability of any of these resources to you or as to whether the information presented is accurate or current. Nothing herein shall be construed as legal, tax or other advice.