Federal Stimulus Programs for Small Businesses
The American Rescue Act was signed into law last week and includes some extensions to existing stimulus programs as well as the creation of new ones for small businesses. Here are some of the key program changes the US Small Business Administration (SBA) will implement for small businesses: $7.25 billion additional for the Paycheck Protection Program, including to expand eligibility to additional nonprofits and digital news services with money set aside specifically for businesses in low-income communities. Additional funds are allocated for the Shuttered …