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Small Business Tax Credit Programs. The American Rescue Plan extends a number of critical tax benefits, particularly the Employee Retention Credit and Paid Leave Credit, to small businesses. Emergency Capital Investment Program.
Access additional information about SBA’s current and past COVID-19 relief programs, including documents in other languages and debt relief for SBA loan borrowers impacted by the pandemic.
The American Rescue Plan will provide emergency grants, lending, and investment to hard-hit small businesses so they can rehire and retain workers and purchase the health and sanitation...
Initial debt relief assistance. As a part of the CARES Act, SBA is authorized to pay six months of principal, interest, and any associated fees that borrowers owe for all 7 (a), 504, and Microloans reported in regular servicing status (excluding Paycheck Protection Program loans).
Signed into law by President Trump on Friday, the package authorizes the Small Business Administration to offer 100% guarantees for up to $349 billion in loans for small businesses that need...
On April 24, Congress passed legislation to replenish funds for small business loan programs. What's New: The newest legislaition will allocate another $310 billion to the PPP and an additional $10 billion to the Economic Injury Disaster Loan (EIDL) grant program.
The American Rescue Plan extends the availability of the Employee Retention Credit for small businesses through December 2021 and allows businesses to offset their current payroll tax liabilities by up to $7,000 per employee per quarter.
Additional funds are allocated for the Shuttered Venue Operators Grant program, and now allows businesses to apply for both a PPP loan after Dec. 27, 2020, and the SVOG $15 billion additional for Targeted Economic Injury Disaster Loan Advance (EIDL) payments, including NEW $5 billion for Supplemental Targeted EIDL Advance payments for those ...
The U.S. Chamber of Commerce has issued this guide and cheat sheet to help small businesses and self-employed individuals prepare to file for a loan from the CARES Act's Paycheck Protection Program.
The program offers loans of up to $10 million to cover eight weeks of payroll plus some additional expenses, like rent and utilities. The loan can effectively turn into a grant. Most, and in...