American Rescue Plan Act
On March 11, 2021, President Biden signed the American Rescue Plan Act into law, which provides additional relief for the nation’s small businesses and hard-hit industries for programs the SBA is currently administering and adds new efforts. Specifically, the new law includes:
- $7.25 billion additional for the Paycheck Protection Program, including to expand eligibility to additional nonprofits and digital news services
- NEW: $28.6 billion for the Restaurant Revitalization Fund for industry-focused grants
- NEW: $100 million to establish a Community Navigator pilot program; grants will go to eligible organizations supporting efforts to improve access to COVID–19 pandemic assistance programs and resources.