Payroll Protection Program (PPP)
On March 25, the U.S. Senate passed H.R. 1799, which will extend the PPP application deadline (currently March 31, 2021) two months, to May 31, 2021, and provide an additional 30 days, after May 31, for the SBA to process pending applications.
Economic Injury Disaster Loan (EIDL)
The SBA is increasing the maximum amount small businesses and non-profits can borrow through its EIDL program. Starting the week of April 6, the SBA is raising the loan limit from 6-months/$150,000 max loan to 24-months/$500,000 max loan.
Restaurant Revitalization Fund (RRF)
SBA expects a "phased launch" of the $28.6 billion RRF grant program to begin in April. During the first 21 days, SBA will give priority to women-owned, socially- and economically-disadvantaged-owned, and veteran-owned small businesses.