Senator Mike Lee’s office reached out with information on PPP, The Targeted EIDL funding and webinars on two new sources of funding, The Shuttered Venue Grant Program and the Restaurant Revitalization Grant Program
Justin Anthony, Business Outreach Director for Utah Senator Mike Lee made contact with the San Juan County Economic Development and Visitors Services office to go over some points on the latest round of economic measures available to county businesses in need. In addition he has forwarded links to sign up for two webinars that will explain two new grant sources. Representatives of Senator Romney and Senator Lee’s offices will be on the call.
President Biden signed into law the American Rescue Plan Act authorizing a $1.9 trillion bill that will put more funding into some of the programs originating in last spring's CARES Act. An additional $7.2 billion has been added to the Payroll Protection Program (PPP). That has expanded to allow for more people to qualify for assistance. Previously it was difficult for freelance and sole proprietors to qualify but hurdles have been removed that were keeping those workers from being able to receive relief funds.
If you are freelance or a sole proprietor your 2019 tax return should contain all the information you will need to qualify for an award. The formulas are clearly explained and most individuals will be able to complete the application in under 30 minutes.
Those who have received the PPP or an Emergency Injury Disaster Loan (EIDL) are eligible to apply for more funding. In the case of those who have already received the EIDL, an invitation to apply for the Targeted EIDL should arrive via email directly from the Small Business Administration to the recipients. Hence the name. This is targeted at those who have already received funding but the SBA has prioritized additional relief dollars for those recipients.
$5 billion has been allocated to fund Supplemental Targeted EIDL Advance payments for those who were hardest hit by the downturn as a result of COVID.
Two other funding sources are covered in the new bill. One is the Shuttered Venue Operators Grant (SVOG) . This grant was announced by the SBA almost two months ago but the nuts and bolts of it and who would actually qualify for the grant had yet to be ironed out. They have finished that task and will begin accepting applications on April 8th 2021.
To find out more about the Shuttered Venue Operators Grant or to determine if you qualify you may want to register to attend the ZOOM call on Thursday March 25th at 10AM. Click here to register for that call or go to https://us02web.zoom.us/webinar/register/WN_-7euZqq8RvSL3XnbaUpHyg
Brand new is the Restaurant Revitalization Fund. This is a $28.6 billion dollar allocation specifically for focused grants to that industry. To register for the ZOOM call on the Restaurant Revitalization Grant program click here to register for that call or go to https://us02web.zoom.us/webinar/register/WN-seDlbJRwT1K3m-365_6wQQ