New Pandemic Relief Grant Programs are Available
As a millennial and small business owner, I know firsthand the struggles that come with trying to keep a business afloat during the pandemic. The good news is that there are new pandemic relief grant programs available to help small businesses like mine.
One of the most recent programs is the Shuttered Venue Operators Grant (SVOG). This grant, which was included in the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, provides financial assistance to shuttered venues such as live performance theaters, concert venues, and museums. The grant can be used to cover expenses such as payroll, rent, and utilities, and it can provide up to 45% of gross earned revenue, with a maximum grant amount of $10 million per entity.
Another program worth noting is the Restaurant Revitalization Fund. This program, which is administered by the Small Business Administration, provides financial assistance to restaurants and other food service businesses that have been impacted by the pandemic. The grant can be used to cover expenses such as payroll, rent, and utilities, and it can provide up to $10 million per entity.
The Economic Injury Disaster Loan (EIDL) program is another one of the most recent programs. EIDL is a long-term, low-interest loan that is available to small businesses, non-profits, and agricultural businesses that have been impacted by the pandemic. The loan can be used to cover expenses such as payroll, rent, and utilities, and it can provide up to $2 million per entity.
In addition to these programs, there are also state and local grant programs available to small businesses. Many states and municipalities have set up grant programs to help small businesses that have been impacted by the pandemic. It's important to check with your state and local government to see if there are any grant programs available to small businesses in your area.
In conclusion, new pandemic relief grant programs are available for small businesses. These programs include the Shuttered Venue Operators Grant, the Restaurant Revitalization Fund, and the Economic Injury Disaster Loan program. Additionally, many states and municipalities have set up grant programs to help small businesses that have been impacted by the pandemic. It's important for small business owners to stay informed and take advantage of these programs to help their businesses survive during these challenging times.
