COVID-19 Relief Updates: New SBA portal for PPP forgiveness, SVOG deadline & Childcare Grants
This month, the U.S Small Business Administration (SBA) launched a streamlined Paycheck Protection Program (PPP) forgiveness application portal and have set a deadline for the Shuttered Venue Operators Grant applications. Further, the New York State office of Children and Family Services (OCFS) has launched the Child Care Stabilization Grants. Read below for more information on the SBA program updates and the new child care grants.
PPP Direct Forgiveness Portal
The U.S. Small Business Administration (SBA) new streamlined Paycheck Protection Program (PPP) forgiveness application portal will allow borrowers with PPP loans of $150,000 or less apply for forgiveness directly through the SBA. The SBA portal accepts applications from borrowers that have a PPP loan with a participating lender that opted into the forgiveness portal, simplifying forgiveness for millions of small businesses.
PPP borrowers can check out the Direct Forgiveness Portal User Guide for detailed instructions. Borrowers needing assistance can call 1-877-552-2692, Monday – Friday, 8 AM to 8 PM ET. Further you can meet with a Pace SBDC Business Advisor for a one-to-one counseling session at no cost to you.
SVOG Application Deadline is August 20
The Shuttered Venue Operators Grant program will stop accepting applications on Friday, August 20th, 2021 at 11:59 Pacific Standard Time. The program allows operators of live venues, live performing arts organizations, museums and movie theaters, as well as live venue promoters, theatrical producers and talent representatives to apply for grants based on 2019 gross earned revenue. To be eligible, a business must have been in operation as of February 29, 2020.
Read more on our SVOG resource webpage and meet with a business advisor if you have further questions regarding the program or application process.
Child Care Stabilization Grants
The New York State Office of Children and Family Services (OCFS) is currently accepting applications for child care stabilization grants. Eligible recipients include Day Care providers, School Age Child Care providers, Family Day Care Centers, and Group Family Day Care providers. The deadline to apply for funding is November 30, 2021.
Funding from this grant can be used for a variety of operating costs and those related to health and safety practices. For further information regarding this program, we encourage you to visit the Pace SBDC's Childcare Stabilization Grant resource page and connect with a Pace SBDC advisor for one-to-one assistance and have your questions answered.
Check out our coronavirus resources page for additional information. Contact a Pace SBDC Business Advisor to meet 1:1 and learn more about your business’s relief options.