2021 COVID Relief Act & Other Resources
As businesses of all kinds continue to navigate the challenges presented by COVID-19, we are keeping an updated list of informative resources available to help you in 2021.
Significantly, the U.S. government has approved new help for businesses through the Consolidated Appropriations Act of 2021. Benefits include additional funding for the Paycheck Protection Program (PPP), reopening the Economic Injury Disaster Loans (EIDL) Program and more assistance for small businesses and nonprofits. Other federal agencies, state resources, nonprofit organizations and private companies are also continuing to respond with assistance for businesses. We've compiled an updated list of resources below to help you find the best path forward for your business.
Macerich and the Small Business Administration (SBA) joined forces to share important details on three SBA Coronavirus Relief Options: Economic Injury Disaster Loan (EIDL), SBA Express Bridge Loans, and the SBA Debt Relief. Click below to see the full presentation.
The Shuttered Venue Operators Grant (SVOG) program was established in December 2020 and amended by the American Rescue Plan Act of 2021. Administered by the SBA, the program will make over $16 billion in grants accessible to live venue operators including movie theater operators and other related businesses.
Eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. Two billion dollars are reserved for eligible applications with up to 50 full-time employees. The SBA expects to open applications in early April 2021.
How it works
The Restaurant Revitalization Fund was established as part of the American Rescue Plan Act of 2021 and will offer $28.6 billion in grants to restaurants and bars, with restaurants able to apply for grants based on lost revenue. Five billion dollars will be earmarked for businesses with 2019 gross receipts of less than $500,000.
Update (April 6, 2021): The Consolidated Appropriations Act extended the Small Business Administration’s COVID-19 Economic Injury Disaster Loan (EIDL) program, with applications for low-interest loans now being accepted through December 31, 2021.
The American Rescue Plan Act also allocated additional funding for targeted EIDL advance payments, extended the loan deferment period and increased the maximum loan limit for loans approved after April 6. Please visit the SBA via the “Learn More” link below for details about these changes.
How it works
Update (April 1, 2021): The deadlines for individuals to file and pay most federal income taxes are extended to May 17, 2021.
Learn more about tax provisions in the American Rescue Plan of 2021 that may impact your business by visiting the link below.
For all assistance programs, it’s important to understand the fine print. Be sure to check with a financial advisor or lender before applying to better understand the details and how individual programs could fit with your specific business needs.
Updated as of June 7, 2021
The content of this website is provided for informational purposes only. Macerich does not control and makes no representations, claims, promises, or guarantees (in each case, express or implied) as to the accuracy, completeness, relevance, timeliness or adequacy of the content, the links, or resources provided on this website. Macerich shall not be liable in any way for any damage or loss in connection with the use or reliance on the content, the links, or resources contained on this website. Macerich does not endorse any website, organization, product or service referenced herein nor do the views and opinions expressed in any content, links or resources necessarily reflect those of Macerich.