{"id":456557,"date":"2021-03-11T20:24:45","date_gmt":"2021-03-12T01:24:45","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=456557"},"modified":"2021-03-11T20:24:45","modified_gmt":"2021-03-12T01:24:45","slug":"american-rescue-plan-act-elevates-small-business-support-in-response-to-covid-19-pandemic","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/american-rescue-plan-act-elevates-small-business-support-in-response-to-covid-19-pandemic\/","title":{"rendered":"American Rescue Plan Act Elevates Small Business Support in Response to COVID-19 Pandemic"},"content":{"rendered":"<h2>\nStatement from SBA Senior Advisor Michael Roth<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p>Washington, March  11, 2021  (GLOBE NEWSWIRE) &#8212; Upon President Biden signing the <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=N8dssCygcnBxJFHWfLfK4PtHWntlM5ogpX04T7HKaY-70I9tYLG5dqN41TAeIyO40bYKxstm6XPoPADZvi_gPyq3QbtBM29A5WoX1rUaKmiNxK63gbsF-zmf9KIEBCgcSIQohspLgxBapIKswZD1EevIofpi57vLsdVFLM7s4is=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>American Rescue Plan Act of 2021<\/u><\/a> into law, the <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=5t0DP8uFMMT_EXwuZO7xwnGJhg6vi3QSio2LpUoR0FbTzjg5VH5tl0eKzqJqg6OOVE9_S1gmjar8TTTFL3hd-BbEZYPPP86LWpDR4j1zx6U=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>U.S. Small Business Administration\u2019s<\/u><\/a> Senior Advisor Michael Roth stated:\u00a0<\/p>\n<p>\n        <em>\u201cThe American Rescue Plan Act enables the SBA to continue to lift up the cornerstones of our communities; the mom-and-pop businesses and nonprofits that provide essential services for our everyday lives, hire from within neighborhoods, and more. Our nation\u2019s more than 30 million small businesses are the economic engine of this country and, in alignment with the Biden-Harris Administration\u2019s focus on equitable treatment, the SBA will work tirelessly to ensure eligible borrowers will get access to this critical economic relief.\u201d<\/em>\n      <\/p>\n<p>\n        <strong>The American Rescue Plan Act\u2019s Small Business Assistance and Support<\/strong>\n      <\/p>\n<p>The American Rescue Plan Act provides additional relief for the nation\u2019s small businesses and hard-hit industries for programs the SBA is currently administering and adds new efforts, including:<\/p>\n<ul>\n<li>$7.25 billion additional for the <a href=\"https:\/\/www.sba.gov\/funding-programs\/loans\/coronavirus-relief-options\/paycheck-protection-program\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>Paycheck Protection Program<\/u><\/a>, including to expand eligibility to additional nonprofits and digital news services<\/li>\n<li>Additional funds are allocated for the <a href=\"https:\/\/www.sba.gov\/funding-programs\/loans\/coronavirus-relief-options\/shuttered-venue-operators-grant\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>Shuttered Venue Operators Grant<\/u><\/a> program, and now allows businesses to apply for both a PPP loan after Dec. 27, 2020, <strong>and<\/strong> the SVOG<\/li>\n<li>$15 billion additional for <a href=\"https:\/\/www.sba.gov\/funding-programs\/loans\/coronavirus-relief-options\/covid-19-economic-injury-disaster-loans#section-header-6\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>Targeted Economic Injury Disaster Loan Advance<\/u><\/a> (EIDL) payments, including <strong>NEW<\/strong> $5 billion for Supplemental Targeted EIDL Advance payments for those hardest hit<\/li>\n<li>\n          <strong>NEW:<\/strong> $28.6 billion for the Restaurant Revitalization Fund for industry-focused grants<\/li>\n<li>\n          <strong>NEW:<\/strong> $100 million to establish a Community Navigator pilot program; grants will go to eligible organizations supporting efforts to improve access to COVID\u201319 pandemic assistance programs and resources.\u00a0\u00a0<\/li>\n<\/ul>\n<p>SBA\u2019s current relief efforts can be found at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=XLWFGlXXwL94glknXWRN5vRZtQF6upiUqGOFn_kwkxuah5E66AwYzirRAfmeMlX6QnU0RGHWEAAM7dhXz77xZs-MNCwEO23QNzH2TQ0-A-CMZ4Tj2AfffrN6viffyupMS7I5tIibFLHla1oEtq49ydCSOroqfMhcGZlR1aMUY2E=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>www.sba.gov\/coronavirusrelief,<\/u><\/a> and more details about these program updates and new efforts the SBA will administer in the coming weeks.\u00a0<\/p>\n<p align=\"center\">###\u00a0<\/p>\n<p>\n        <strong>About the U.S. Small Business Administration<\/strong>\n      <\/p>\n<p>The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=XLWFGlXXwL94glknXWRN5v4YdNwCQCKwCVwE9MqqxDneDi3FdVleuF2Dh0ySZEV_fAgpTeX-hAIJg-auGEuHkA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>www.sba.gov.<\/u><\/a><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4ODkzMSM0MDYwOTc5IzIyMDIzMjg=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/76d97b64-1d3e-4a87-837d-be53037dd1fb\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\">\n<pre>Press Office\r\nUnited States Small Business Administration\r\nPress_Office@sba.gov\r\n<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Statement from SBA Senior Advisor Michael Roth Washington, March 11, 2021 (GLOBE NEWSWIRE) &#8212; Upon President Biden signing the American Rescue Plan Act of 2021 into law, the U.S. Small Business Administration\u2019s Senior Advisor Michael Roth stated:\u00a0 \u201cThe American Rescue Plan Act enables the SBA to continue to lift up the cornerstones of our communities; the mom-and-pop businesses and nonprofits that provide essential services for our everyday lives, hire from within neighborhoods, and more. Our nation\u2019s more than 30 million small businesses are the economic engine of this country and, in alignment with the Biden-Harris Administration\u2019s focus on equitable treatment, the SBA will work tirelessly to ensure eligible borrowers will get access to this critical economic relief.\u201d The American Rescue &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/american-rescue-plan-act-elevates-small-business-support-in-response-to-covid-19-pandemic\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;American Rescue Plan Act Elevates Small Business Support in Response to COVID-19 Pandemic&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-456557","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>American Rescue Plan Act Elevates Small Business Support in Response to COVID-19 Pandemic - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/american-rescue-plan-act-elevates-small-business-support-in-response-to-covid-19-pandemic\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"American Rescue Plan Act Elevates Small Business Support in Response to COVID-19 Pandemic - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Statement from SBA Senior Advisor Michael Roth Washington, March 11, 2021 (GLOBE NEWSWIRE) &#8212; Upon President Biden signing the American Rescue Plan Act of 2021 into law, the U.S. Small Business Administration\u2019s Senior Advisor Michael Roth stated:\u00a0 \u201cThe American Rescue Plan Act enables the SBA to continue to lift up the cornerstones of our communities; the mom-and-pop businesses and nonprofits that provide essential services for our everyday lives, hire from within neighborhoods, and more. Our nation\u2019s more than 30 million small businesses are the economic engine of this country and, in alignment with the Biden-Harris Administration\u2019s focus on equitable treatment, the SBA will work tirelessly to ensure eligible borrowers will get access to this critical economic relief.\u201d The American Rescue &hellip; Continue reading &quot;American Rescue Plan Act Elevates Small Business Support in Response to COVID-19 Pandemic&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/american-rescue-plan-act-elevates-small-business-support-in-response-to-covid-19-pandemic\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-12T01:24:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4ODkzMSM0MDYwOTc5IzIyMDIzMjg=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/american-rescue-plan-act-elevates-small-business-support-in-response-to-covid-19-pandemic\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/american-rescue-plan-act-elevates-small-business-support-in-response-to-covid-19-pandemic\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"American Rescue Plan Act Elevates Small Business Support in Response to COVID-19 Pandemic\",\"datePublished\":\"2021-03-12T01:24:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/american-rescue-plan-act-elevates-small-business-support-in-response-to-covid-19-pandemic\\\/\"},\"wordCount\":400,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/american-rescue-plan-act-elevates-small-business-support-in-response-to-covid-19-pandemic\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODE4ODkzMSM0MDYwOTc5IzIyMDIzMjg=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/american-rescue-plan-act-elevates-small-business-support-in-response-to-covid-19-pandemic\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/american-rescue-plan-act-elevates-small-business-support-in-response-to-covid-19-pandemic\\\/\",\"name\":\"American Rescue Plan Act Elevates Small Business Support in Response to COVID-19 Pandemic - 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