Tax Season 2021

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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!

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Related Updates

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.

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