The American Rescue Plan, signed into law by President Biden on March 11, 2021, provides a lifeline to small businesses struggling in the wake of the COVID-19 pandemic. The relief package includes $50 billion in funding for small businesses, with particular attention paid to those owned by women, minorities, and veterans. This article will explore the different provisions of the American Rescue Plan that directly impact small businesses, including the Paycheck Protection Program, the Restaurant Revitalization Fund, and the Shuttered Venue Operators Grant program. We will also discuss the eligibility requirements for these programs and provide guidance on how small business owners can apply for funding.
