April news & updates
What's Inside:

  • Latest Covid-19 Relief $ Available, including SBA's Shuttered Venues Operator Grant
  • American Rescue Plan Act
  • Business Transition Resources
  • Client Shoutout
  • Upcoming Training Events
Key 2021 Covid Financial Support Programs
Loan and grant program highlights include:

  • Employee Retention Tax Credits - Employers can claim up to 70% of total compensation expense per employee (up to $28k per employee per quarter) for Q1 and Q2 of 2021, and benefits extended for Q3 and Q4.

  • Restaurant Revitalization Fund - As part of the American Rescue revitalization Fund, the program launches at the beginning of April. This fund can help provide restaurants with grants equal to their pandemic-related revenue loss, up to $5 million per physical location.

  • SBA Debt Relief Program -New SBA Loans now through September 2021 get their first 3 months of payments FREE (capped at $9,000 per month per borrower) made on your behalf. Existing SBA Loans may get additional months of FREE payments as well, based on additional criteria.

  • Shuttered Venue Operators Grant - The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. The program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance. Grant applications start April 8th. Venues need to have SAM# which takes about a week to register. More info here.

  • Paycheck Protection Program 2021 - SBA forgivable loan made through local banks to help businesses keep the workforce employed has been extended until May 31st. 

  • Economic Injury Disaster Loan (EIDL) - The U.S. Small Business Administration is increasing the maximum amount small businesses and non-profit organizations can borrow through its COVID-19 EIDL program. Starting the week of April 6, 2021, the SBA is raising the loan limit for the COVID-19 EIDL program from 6-months of economic injury with a maximum loan amount of $150,000 to up to 24-months of economic injury with a maximum loan amount of $500,000

American Rescue Plan Act
On March 11, 2021, President Biden signed the American Rescue Plan Act into law, which provides additional relief for the nation’s small businesses and hard-hit industries for programs the SBA is currently administering and adds new efforts. Specifically, the new law includes:
  • $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.
State Small Business Credit Initiative

  • $10 billion for the fund, administered by the Treasury Department
  • The money is allocated to states to support programs of their own design and can include: loan participation programs, venture capital programs, collateral support programs, loan guarantee programs, and capital access programs.
  • Allows up to $500 million in Technical Assistance
USDA assistance & support for socially disadvantaged farmers, ranchers, forest landowners, operators, & groups
  • Provides $1.01 billion to provide assistance for socially disadvantaged farmers, ranchers, forest landowners, operators, and groups, including:
  • not less than 5 percent to provide outreach, mediation, financial training, capacity building training, cooperative development training, and support, and other technical assistance
Kansas Center for Business Transition
The Kansas Center for Business Transition is a free resource in conjunction with the Kansas SBDC to help small business owners plan and execute their business transition.

Services include:
• Educational Information to Help You Transition
• Free Exit Planning Checklist to Build Your Exit Plan
• Estimate of Value for Your Business
• Access to Certified Exit Planning SBDC Advisors
• Classes and Events
You can find them online at ksbiztransition.com or on Facebook, Twitter, and LinkedIn @KSBizTransition
Kansas SBDC Exit Planning Client Shout Out
In July of 2005, Craig and Colleen Lord opened Toto’s Tacoz in Wamego, Kansas. They first approached the Kansas SBDC in 2006 for advice and support on early growth objectives and were so pleased with their experience that they continued working with the SBDC throughout
the years.
The Lords’ diligence in staying on top of the business and being valued members of the Wamego community earned the restaurant an Existing Business of the Year Award from the Kansas SBDC in 2017. Around this time they began working with the Kansas SBDC on a business valuation
and formal succession plan to sell their business.
Craig credits the valuation with giving him and Colleen confidence that they were asking a fair price for the business. Colleen adds that having a plan with a checklist was important for keeping them moving onto the next step. “Our buyer was long distance and it was extremely helpful to have financial details, pictures, and methods in one package to send via email to the interested party.”
The Kansas SBDC has several CEPA certified advisors who work in conjunction with the Kansas Center of Business Transition. Whether you’re interested in selling your business to new owners, or curious to see what your exit options are, the Kansas SBDC and the Kansas Center for Business Transition are here to help.
Upcoming Webinars and Virtual Events
Upcoming Free Webinars
To register for our upcoming events, click here

Upcoming Webinars

April 7th, 10:00 am | Use YouTube to Grow Your Business
Cost $15.00

April 21st, 10:00 am | Learn the Basics of Google Ads
Cost: $15.00

April 24th, 9:00 am | Website Building Workshop
Cost: $75.00
Funded in part through a cooperative agreement with the U.S. Small Business Administration