- $7.25 billion additional for the Paycheck Protection Program, including to expand eligibility to additional nonprofits and digital news services
- 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 hardest hit
- 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.
The Restaurant Revitalization Fund will be available on sba.gov within a few weeks
. Eligible businesses can receive a tax-free federal grant equal to the amount of its pandemic-related revenue loss, which is calculated by subtracting 2020 gross receipts, first
and second PPP loans from 2019 gross recipes.
For a 21-day period out of the gate, the SBA will prioritize
awarding grants for small businesses owned and controlled by women, veterans, or socially and economically disadvantaged operators.
Restaurants can use funds on payroll; principal or interest on mortgage obligations; rent; utilities; maintenance including construction to accommodate outdoor seating; supplies such as protective equipment and cleaning materials; normal food and beverage inventory; certain covered supplier costs; operational expenses; paid sick leave; and any other expenses that the SBA determines to be essential to maintaining operations.