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SBA COVID-19 Relief Program
Overview of the SBA COVID-19 Relief Program
- The Small Business Administration plans to start a $28.6 billion “phased” launch in April for the Restaurant Revitalization Fund
- Extending EIDL Cap from $150k to $500k starting April 6th (A work is in progress to support the system cap up to $2M)
- SBA agreed ARP granted “true-up” to small businesses that only received $1k instead of $10k
- The SBA will give priority to informational emails to Low-Income Communities (Priority 1) about the increase in the EIDL advance
- Small Businesses who did not have funding prior to July 2020, will receive invitations via email
- Non-profits lending limit for COVID-19 EIDL increased (Maximum loan amount $150k up to 6-months, Maximum loan amount for economic injury $500k up to 24-months
Do you need help to review your application? Schedule a time here:
Considering applying for different funds? PPP, SVOG, or EIDL?
We’ve been helping clients with disaster relief, survival budgeting, and cash management plans since March!
secure plus financial
End of Year Small Business Checklist
The end of the year is a great time to review your small business financial checklist and make sure that you are ready for the upcoming year.
Santa’s Tax Savings Success Business Model
Today’s business owners are facing serious challenges that allow their business to grow. Learn from Santa’s Tax Savings Success Business.
High Interest Rate on Commercial Loans
Commercial loans are great because you can fund your business; be on the lookout for high interest rates when you apply for a commercial loan.
How Rising Inflation May Lead to Higher Tax Bills
Inflation has been rising over the past year. Taxes haven’t increased as quickly as inflation, but now it’s possible to pay more in taxes than you used to; this is because the IRS calculates taxes based on income and inflation.
2021 Tax Law Proposals Timeline
The Biden administration has introduced a series of tax proposals as part of the Build Back Better initiative to pay for new government programs such as education and infrastructure.
Bipartisan Infrastructure Bill
House has agreed to a motion to concur in the amendments made by the Senate to the Bipartisan Infrastructure Bill.