SBA Administrator Issues Statement on the Closure of Paycheck Protection Program
| Jun. 1 |
U.S. Small Business Administrator Isabella Casillas Guzman issued the following statement on the closure of the Paycheck Protection Program (PPP) to new loan guaranty applications, which has provided over $798 billion in economic relief to small businesses and nonprofits across the nation, keeping employees employed and helping businesses come back stronger than ever.
SBA Rolls Out $100M Grant Program to Help Small Businesses Recover from COVID Fallout
| May. 27 |
The 'Community Navigator Pilot' Program will offer grants of $1 million to $5 million to eligible organizations to provide counseling, networking and to serve as an informal connection to agency resources to help rural and urban small businesses recover from the economic devastation wrought by the COVID-19 pandemic.
Fact Sheet: Coronavirus State and Local Fiscal Recovery FundsMembers only Login
May. 20 |
The $350 billion Coronavirus State and Local Fiscal Recovery Funds provide substantial flexibility for each jurisdiction to meet local needs—including support for households, small businesses, impacted industries, essential workers, and the communities hardest hit by the crisis. These funds also deliver resources that recipients can invest in building, maintaining, or upgrading their water, sewer, and broadband infrastructure.
In First 11 Days, Treasury Distributes $105.3B through Coronavirus State and Local Fiscal Recovery Funds
U.S. Department of the Treasury
| May. 20 |
The U.S. Department of the Treasury announced that it has distributed $105.3 billion to more than 1,500 recipients through the Coronavirus State and Local Fiscal Recovery Funds, established by the American Rescue Plan Act of 2021. This $105.3 billion distribution is part of the $350 billion allocated in emergency funding for state, local, territorial, and Tribal governments.
U.S. Department of the Treasury Launches the Coronavirus State and Local Fiscal Recovery Funds Program
Ballard Spahr LLP
| May. 19 |
The U.S. Department of the Treasury announced the launch of the Coronavirus State and Local Fiscal Recovery Funds Program, which will provide $350 billion in emergency funds to eligible entities including state, local, territorial, and tribal governments. Eligible entities may use Coronavirus State and Local Fiscal Recovery Funds to stabilize revenue downturns and address budget shortfalls.
Fact Sheet: Biden-Harris Administration Supports Hard-Hit Restaurants
The White House
| May. 5 |
Established through the American Rescue Plan, the Biden-Harris Administration recently launched the Restaurant Revitalization Fund – a $28.6 billion program to aid restaurants, bars, food trucks, and other food and drink establishments. In the first two days of the program, 186,200 restaurants, bars, and other eligible businesses applied for relief, including 97,600 applications from women, veterans, and socially and economically disadvantaged individuals.
USDA Invests $92M in Grants for Local, Regional Food Producers Affected by the Pandemic
| May. 5 |
The USDA announced $92.2 million in competitive grant funding under the 2018 Farm Bill's Local Agriculture Market Program (LAMP). The LAMP grants are funded through the Farmers Market program as part of USDA's Pandemic Assistance for Producers Initiative. These grants support the development, coordination, and expansion of direct producer-to-consumer marketing, local and regional food markets and enterprises, and value-added agricultural products.
SBA’s Guidance on the $28.6B Restaurant Revitalization Grant Program
The Wall Street Journal
View more Federal Resources
| Apr. 26 |
The Small Business Administration (SBA) has provided guidance on how the $28.6 billion Restaurant Revitalization Fund will work. The Restaurant Revitalization Fund provides for qualified restaurants and other food establishments to obtain tax-free federal grants of up to $10 million to replace the loss of revenues resulting from the pandemic. Unlike the SBA's Paycheck Protection Program, the Restaurant Revitalization Fund will be administered directly by the SBA.
Coronavirus State and Local Fiscal Recovery Funds: Five Things Governments Need to Know
The U.S. Department of the Treasury published its interim final rule to implement the Coronavirus State Fiscal Recovery Fund and the Coronavirus Local Recovery Fund. The American Rescue Plan Act created the $350 billion recovery funds. To support governments in using money distributed from the recovery funds, the interim rule provides critical guidance regarding eligible uses of funds.
How Cities, States, and Tribes Can Boost Entrepreneurship via the American Rescue Plan
The COVID-19 crisis has put thousands of small businesses, from high-growth startups to Main Street employers, out of business. Importantly, the economic impacts of COVID-19 have not been equal. Minority-owned businesses and very small businesses are disproportionately concentrated in the industries most heavily impacted by the COVID-19 crisis such as restaurants, retail stores, and personal services.
American Rescue Plan Act - Local Relief Frequently Asked QuestionsMembers only Login
After the American Rescue Plan Act was signed into law by President Biden on March 11, 2021, it guaranteed direct relief to all 19,000 cities, towns, and villages in the United States. NLC has identified frequently asked questions about the Coronavirus Local Fiscal Recovery Fund grants, and has provided answers based on available information to help cities prepare while Treasury develops official guidance.
How States Can Avoid Costly Pitfalls While Rebuilding Their Economies
An unexpected decrease in revenue is one of the most challenging budget situations that state governments can face, as recent experiences grappling with the impact of the pandemic show. Policymakers are also feeling pressure to get their economies back on track. If economic development incentives are part of a state's recovery strategy, leaders should reduce fiscal risk, make informed policy decisions, and revisit programs for relevancy.
Summary of State and Local Funding Sources in the American Rescue PlanMembers only Login
This table includes all the federal-to-local funding streams in the American Rescue Plan that reach cities and their residents. It does not include appropriations to Tribal Governments or Agency appropriations focused on program operations at the federal level with no further sub-allocation. It is a dynamic summary to be paired with the Federal Investment Guide produced by Accelerator for America, Drexel University, and the US Conference of Mayors.
How Should Local Leaders Use Their American Rescue Plan Funding?
Included in the American Rescue Plan Act is $350 billion for "Coronavirus State and Local Fiscal Recovery Funds." These funds will be deployed to state and local governments to mitigate the fiscal impact of the COVID-19 pandemic. For many cities and counties, this represents the largest positive fiscal jolt to their budgets in decades. The decisions made in the coming weeks will determine whether cities merely enjoy a brief stimulus or seed a new trajectory of inclusive economic growth.
Everything Cities Need to Know About COVID Relief
President Biden signed the American Rescue Plan Act into law on March 11. With the stroke of a pen, the President and Congress delivered historic, unprecedented and meaningful aid to America's 19,000 cities, towns, and villages with $65.1 billion of direct aid. This analysis provides a closer look at the direct aid to cities, towns, and villages.
The Pandemic is Pushing Cities to Rethink How to Drive Capital to Small Business
View More Disaster Recovery & Relief Resources
An estimated 41 percent of Black-owned businesses closed over the same February to April of 2020. State and local governments are using an assortment of tools to push that money in the direction of the people and businesses hit hardest by the pandemic — which happen to be disproportionately Black, Indigenous, or other people of color.