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The Latest on COVID-19 Relief: 4/7/21

Updates from the SI SBDC:

The Latest on COVID-19 Relief

Your local SBDC is available to help you navigate the new stimulus package, and for eligible businesses, help you prepare the necessary documentation to apply. Connect with the Staten Island SBDC to request assistance from a trusted local expert.

Shuttered Venue Operators Grant: The U.S. Small Business Administration plans to start accepting applications tomorrow, April 8, 2021. Businesses can now apply for both a PPP loan after Dec. 27, 2020, and the SVOG. To receive an alert when the application opens, please visit this link. To learn more about the SVOG program, click here.

The Paycheck Protection Program (PPP) deadline has been extended! Applications can now be submitted to banks until May 31, 2021. This is an SBA-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis, and offers loan forgiveness terms. Learn more here. PPP is open to sole proprietors and subcontractors, as well as those who have employees. If you file a Schedule C with your tax returns, connect with your business advisor to learn more.

Restaurant Revitalization Fund: After we receive official guidance from the SBA, our team of Business Advisors will be prepared to help restaurants determine eligibility and assemble the necessary documentation to apply for this upcoming grant program. In the meantime, the National Restaurant Association has provided a breakdown here.

Economic Injury Disaster Loan: Those who received a partial EIDL Advance and who live in a low-income community may have received an invitation to apply for the Targeted EIDL Advance. Search your email for & connect with an SBDC advisor if you need further assistance.

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