• Registrations will begin on Friday, April 30, 2021, at 9 a.m. EDT and applications will open on Monday, May 3, 2021, at noon EDT
• Program overview: Restaurant Revitalization Fund (sba.gov) (along with the materials being in 17 languages other than English additional translations [Thai, Khmer, Swahili, Somali, Samoan, Tongan, Marshallese and Chuukese] of the one-page overview can be found there as well)
• Applicants can get help via restaurants@sba.gov or hotline 1-844-279-8898

Shuttered Venue Operators Grant
applications opened on April 26 at 12p EDT

• Application review has already begun and it is expected awards will begin in May
• Note: because this is a federal grant program and to ensure fair and equal treatment of all SVOG potential applicants and protect SBA team members and the agency, specific SVOG information cannot be provided to individual applicants. The best sources of information for reference are www.sba.gov/svogrant and the Shuttered Venue Operators Grants - FAQ (sba.gov). SBA resource partners can provide direct guidance.

Supplemental Targeted Advance – www.sba.gov/eidl

• On April 23, the Supplemental Targeted Advance payments, which the American Rescue Plan Act appropriated $5 billion for, launched (news release)

Paycheck Protection Program

• PPP remains open until May 31, 2021, for lenders to submit loan applications and there’s an additional 30-day period for the SBA to process applications still pending (Administrator’s statement)
• Paycheck Protection Program Weekly Reports 2021 (sba.gov) continue to be updated; information as of April 25 shows:
• The SBA has guaranteed more than 5.1 million PPP loans totaling more than $248 billion in 2021
• The average 2021 PPP loan is $48,000 and nearly 84% of these loans have been for $50,000 or less
• Nearly 53% of the 2021 PPP loans (more than 2.7 million) are First Draw PPP loans and, of those, more than 98% are for those with 10 or fewer employees, providing first-time PPP loans and critical relief to the smallest businesses
• More than 1.9 million Second Draw PPP loans have gone to those with 10 or fewer employees, further supporting this relief for the smallest businesses

COVID-19 Relief Program Report
Updated with data as of April 8, 2021; key PPP points include:

• More than 4.2 million PPP loans totaling nearly $229 billion have been guaranteed with the 2021 PPP funding
• 89% of the PPP loans in the 2021 funding round are for less than $100,000
• 94% of PPP loans in the 2021 funding round have gone to businesses with 20 employees or fewer   
• Approx. 52% of PPP loans have completed the forgiveness process and across all loan sizes, over 99% of loan value has been forgiven
• 3.77 million EIDLs totaling more than $202 billion have been approved

For detailed information on SBA’s COVID-19 economic relief programs for small businesses and other eligible entities, visit www.sba.gov/relief and www.sba.gov/asistencia (en Español)