Financial Resources

The Paycheck Protection Program has been extended through May 31, giving businesses additional time to apply for either first or second draw loans. The SBA also has a 30-day processing period after May 31 for any remaining pending loans. Guidelines and lenders are available on the SBA’s website. 

The SBA’s grant program for Shuttered Venue Operators is now open as of noon Friday, April 9. Eligible businesses are encouraged to check the requirements and submit their application through the SBA’s portal

NSBA Prioritizes Smallest of Small Businesses in the Paycheck Protection Program

Steps to Promote Equitable Relief for Mom-and-Pop Businesses.

Building on a month of strong results, the Biden-Harris Administration and the U.S. Small Business Administration are taking steps with the Paycheck Protection Program to further promote equitable relief for America’s mom-and-pop businesses. 

The latest round of Paycheck Protection Program funding opened one month ago and already the Biden Administration has succeeded in making major improvements to the program’s implementation:

  • For businesses with fewer than ten employees, the share of funding is up nearly 60%
  • For businesses in rural communities, the share of funding is up nearly 30%
  • The share of funding distributed through Community Development Financial Institutions and Minority Depository Institutions is up more than 40%

The SB News: PPP. Small Business updateWatch Video>

Business Loan Program Temporary Changes; Paycheck Protection Program as Amended by Economic Aid ActDownload PDF>

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