Across the country, millions of small businesses are struggling to keep their doors open. Here’s a breakdown of how the American Rescue Plan will help:
The American Rescue Plan allocates $15 billion in flexible grants to help the smallest, most severely impacted businesses persevere through the pandemic.
The bill provides $28 billion for a new grant program to support hard-hit small restaurants and other food and drinking establishments.
We’re going to bolster the Paycheck Protection Program with an additional $7.25 billion in funding to support small businesses and non-profits that were previously excluded.
Our Administration will invest $10 billion in successful state, local, and tribal small business financing programs to help small businesses innovate, create and maintain jobs, and provide the essential goods and services that communities depend on.
Altogether, the American Rescue Plan will invest over $60 billion in our small businesses to ensure they have the resources necessary to make it through this pandemic.
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