Earlier this week, bi-partisan legislation was introduced in Congress to pump an additional $60 billion into the depleted Restaurant Revitalization Fund (RRF). As we advised just weeks ago, all $29 billion of the original RRF funds were committed within the 3-week priority window (women, veteran or socially/economically disadvantaged business owners) that Congress mandated when the…
Read More »The SBA Administrator Isabel Guzman has announced that the agency will expand eligibility for its $25 billion cash grant program to a host of additional businesses. SBA’s Targeted Economic Injury Disaster Loan Advance grant program, which provides up to $10,000 to eligible businesses as well as its Supplemental Targeted Advance program ($5,000 follow-up grants) will…
Read More »Michigan Governor Gretchen Witmer is proposing a deal for small business owners in The Wolverine State that would put a $15/hour minimum in place for many Michigan workers. The Governor’s plan would provide 3-month wage grants to businesses that agree to increase worker wages to $15 per hour with the grant paying the differential between…
Read More »As the SBA’s Paycheck Protection Program and Restaurant Revitalization Funds expire or run out of funds, New York will begin accepting applications on June 10 for what the state is calling the Small Business Recovery Grant Program. The grant program, proceeds from which must go to reimbursable pandemic related expenses incurred between March 1, 2020…
Read More »It’s a similar situation with SBA’s popular Paycheck Protection Program (PPP), which was funded for a 2nd round of forgivable business loans in the $1.9 trillion American Rescue Plan Act. The PPP loan portal was closed to most applicants earlier this month despite the fact that the program was officially extended until May 31. There…
Read More »The $28.6 billion Restaurant Revitalization Fund (RRF) was actually authorized by Congress back in the early part of last month. Despite the fact that the program was signed into by President Biden on March 11, it still is making very slow progress in coming to fruition. The agency succeeded in getting the RRF website launched…
Read More »The steady march of states loosening some of their COVID-related restrictions continued with Minnesota Governor Tim Walz signing an order to ease restriction on businesses and gatherings. Now, restaurants and bars there can offer indoor dining at 75 percent of capacity with parties limited to six people and on-site dining required to close at 11…
Read More »Earlier this week, the House of Representatives approved the Senate changes to the $1.9 trillion COVID relief bill and President Biden without any delays at all, signed it into law yesterday. Aside from the direct stimulus payments of $1400 to most Americans under certain income levels, the bill includes an additional $7.25 billion going…
Read More »Notwithstanding the ruling by the Senate Parliamentarian, the US House is expected to give final approval to Biden’s $1.9 trillion American Rescue Plan Act of 2021 as soon as today, with some questions still remaining as to what the final bill will ultimately include. As of this writing, the legislation, which cleared the House Budget…
Read More »Although even the President himself opined a few weeks ago that the minimum wage increase would likely be stripped out of the American Rescue Plan Act, the issue is still very much alive and could possibly be passed as part of the $1.9 trillion relief bill. Prevailing wisdom had the wage hike dead once Senator…
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