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.
Subscribe to SBA email alerts and enter your zip code for local updates.
Financial Resources for Restaurants
- The Restaurant Opportunities Centers United has compiled a list of national and local relief resources for restaurant workers.
For Women-Owned Businesses
- Building on the success of the first round of PPP, SBA is continuing to address potential barriers to access to capital for minority, underserved, veteran, and women-owned business concerns in their Guidance on Accessing Capital for Minority, Underserved, Veteran and Women-Owned Business Concerns.
- The U.S. Small Business Administration announced the launch of 20 new Women’s Business Centers (WBC) across America to serve rural, urban and underserved communities alike.
- The Tory Burch Foundation Capital Program powered by Bank of America provides women entrepreneurs in the United States the opportunity to access affordable loans through Community Lenders.
Business Webinar Series
Re-Emergence: The Other Side of COVID-19
Angel Cicerone, President of Tenant Mentorship and Author
Creative Ideas to Engage Your Customers While Getting Ready to Reopen
Beth Azor, Azor Advisory Services, Inc. "The Canvassing Queen", CRE Leasing Coach, Author/Speaker
Social Media Tips During COVID-19
Sarah Malcolm, Co President, ATYPICAL and Skye Van Aswegen, Chief Operating Officer, ATYPICAL
Visit our Re-Opening Resources page for more tips and resources.
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.
*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.