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American Rescue Plan Act

American Rescue Plan Act

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.