NEW!: The Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act is part of the Consolidated Appropriations Act of 2021. This Act provides designed funding to support small business impacted by COVID-19. While some components of the program are similar to the CARES Act passed in March 2020, there are some key differences. In addition, the U.S. Small Business Administration (SBA) has not released their official guidance. We will continue to update this webpage as new information is available.

Relief Programs Overview

The non-profit overview was produced by our colleagues at the J.W. Fanning Institute for Leadership Development. Please view the guide for more information about their non-profit hotline.

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Starting January 11th, PPP participating CDFI’s and MDI’s will be accepting applications for first draw PPP loans. The PDF application form for these loans is located at the link below Some CDFI’s/MDI’s might accept the paper version, though most will have an electronic portal set up. The PDF form looks to be essentially a one page document and can assist clients in determining the information needed to submit to the electronic portal.


Starting on Wednesday, January 13, participating CDFI’s and MDI’s will be accepting applications for second draw PPP loans (PPP2) . The PDF application form for these loans is located here:


  • PPP2 has a loan limit of $2M and $10M if combined with PPP1, based on:
    • 2.5X average monthly 2019 payroll (same as PPP1)
    • 3.5X if you’re a business with a NAICS Code beginning in 72


  • Businesses eligible for the PPP2 include:
    • Business must employ less than 300 employees.*
    • Business must have experienced at least one quarter in 2020 with revenues >25% below corresponding 2019 quarter.
    • Small businesses, independent contractors, sole proprietors and self-employed.
    • Business had to be in business on February 15, 2020.


  • Must have used or will use full amount of initial PPP loan funds (PPP1).


  • The PPP2 includes additional eligible expenses outside of payroll*:
    • Operations Expenditures – software, cloud computing, HR and accounting expenses.
    • Property Damage Costs – repair expenses due to public disturbances not covered by your insurance.
    • Supplier Costs – supplier costs essential to your business.
    • Worker Protection Expenditure – cost incurred to protect workers from COVID-19.
    • Employer Provided Group Insurance – can be included as payroll costs.


  • Can request an increase in PPP1 loan if SBA updated regulations would have allowed it (e.g. Owner’s Draw).


  • Information for seasonal employers*:
    • Operates for no more than seven months in a year
    • Earned no more than 1/3 of its receipts in any six month period during prior calendar year
    • Can use highest 12 consecutive weeks of payroll between 2/15/2019 and 2/15/2020 to calculate loan size.


  • 501(c)(6) now eligible, but cannot have more than 15% of its revenue from lobbying efforts.*


  • For loans under $150k – forgiveness application is now a one-page certification that identifies:
    • Number of employees you were able to retain
    • Estimate of amount spent on payroll
    • Total loan amount


  • All loan recipients must attest to the use of funds for allowable expenses only.


  • SBA will issue this form within 24 days of enactment.


* Items marked with an asterisk indicate program changes from PPP1. 


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The COVID-19 Emergency Economic Injury Loan program has been extended through December 31, 2021.

To apply for the program, click here.


  • To qualify for a full $10,000 EIDL grant, a business must:
    • Be located in a low-income community, and
    • Have suffered an economic loss greater than 30%, and
    • Employ no more than 300 employees.


  • Repeals the EIDL Advance Deduction from forgiveness (those already forgiven will be ‘made whole’).


  • Targeted Advances to eligible entities:
    • “Grosses-up” the difference between what was granted earlier and $10k
    • Provides $10k grant to those who did not get grants because funding had run out.


  • In addition, the business must qualify as an eligible entity as defined in the CARES Act:  
    • A small business, cooperative, ESOP Tribal concern, with fewer than 300 employees
    • An individual who operates under as a sole proprietorship, with or without employees, or as an independent contractor; or a private non-profit or small agricultural cooperative.
    • The business must have been in operation by January 31, 2020.
    • The business must be directly affected by COVID-19.


  • ECONOMIC LOSS —The term ‘‘economic loss’’ means, with respect to a covered entity—
    • (A) the amount by which the gross receipts of the covered entity declined during an 8-week period between March 2, 2020, and December 31, 2021, relative to a comparable 8-week period immediately preceding March 2, 2020, or during 2019; or
    • (B) if the covered entity is a seasonal business concern, such other amount determined appropriate by the Administrator.


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  • Pays an additional 3 months of principal and interest (P&I) on existing 7(a), 504 and Microloans
    • Begins in February 2021 – capped at $9,000 per month
    • After 3 months – businesses with selected NAICS codes will receive an additional 5 months of P&I payments – capped at $9000 per month
    • Designated NAICS Codes beginning in:  61, 71, 72, 213, 315, 448, 451, 481, 485, 511, 512, 515, 531, or 812.


  • Pays 6 months of P&I for any new SBA guaranteed loans approved before Sept. 30, 2021.


  • Improvements have been made to the SBA 7(a) program.
    • Increased SBA guarantee level to 90%
    • Reduced or eliminated some fees.


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The new Act provides $15B for SBA grants to:
  • Theatrical producers and talent representatives


  • Operators of:
    • Live venues
    • Live performing arts organizations
    • Museums
    • Independent motion picture theatres


  • Must demonstrate a 25% reduction in revenue


  • Can be up to $10 million dollars with a potential supplement of 50%


  • $2B is set-aside for those with less than 50 employees

Timing of Grants:

• In the initial 14 days, grants will be exclusively made to those with 90% or greater revenue loss

• In the second 14 days, grants will be to those with 70% or greater revenue loss

• After these two rounds – all other qualifying entities will receive awards

• NOTE – if you receive a grant, you cannot participate in PPP2


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  • Programs Targeted at Specific Business Segments:
    • Child Care Providers
    • Transportation Providers
    • Rental Assistance


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  • Expenses paid by PPP funds can be claimed as business expenses.
    • Resolves the IRS and Treasury guidance that this would constitute ‘double-dipping’ and they couldn’t be used as business expenses.
    • Makes the language retroactive ‘as if it were included in the original CARES Act.’


  • Debt relief payment of P&I will not be treated as income.
    • Reverses recent guidance that required lenders to issue 1099 forms to borrowers benefiting from this program.
    • Makes the language retroactive ‘as if it were included in the original CARES Act.’


The University of Georgia Small Business Development Center (SBDC) has 18 offices across the state, covering every county, with consultants available to assist small business owners through the SBA programs available.


Many of our offices are working remotely, so if you do call and reach a voicemail, we will work to return your call as soon as possible. Please consider us a resource to assist you during these challenging times and let us know how we can be of service.

Note: Information on this page was current as of publishing; however, information may be subject to change. Please check back frequently as information will continue to be added and updated.

Last Update: April 24, 2021