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The funding package, which includes $40 billion for FEMA's disaster relief fund and more than $2 billion for the depleted Small Business Administration loan program, would be delivered to Congress ...
The program helps small businesses put plans in place to prepare for disaster and also provides immediate emergency funding when necessary. Businesses are asked ... grants small business loans ...
A small business emergency fund — sometimes called a contingency fund — is a stash of savings that a business draws from during an emergency or financial challenge.
The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package or American Rescue Plan, is a US$1.9 trillion economic stimulus bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021, to speed up the country's recovery from the economic and health effects of the COVID-19 pandemic and recession. [1]
Of that amount, $60 billion is for PPP loans made by small banks, small credit unions, and community financial institutions. [19] [20] Appropriates an additional $10 billion for emergency Economic Injury Disaster Loans. [21] [20] Expands eligibility for emergency Economic Injury Disaster Loans to farms and agricultural-related businesses. [22] [20]
This funding will provide for the immediate needs of the SBA Disaster Loan Program to provide timely, low-interest financing for the repair and rebuilding of disaster-damaged private property for homeowners, renters, and businesses. This funding would also provide grants to assist small businesses affected by Hurricane Sandy with disaster ...
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