March 20, 2021

2021 – 03/11

Even though the provisions of the newly passed American Rescue Plan Act (ARPA) lean heavily toward individuals, there are several key provisions for businesses. For example, the ARPA introduces targeted Economic Injury Disaster Loan (EIDL) grants from the Small Business Administration (SBA). The loan grants are available for eligible small businesses, and the amounts received as targeted EIDL advances aren’t included in the gross income of the individuals who receive the amounts. Along the same lines, under ARPA, eligible restaurants, food trucks and similar businesses can receive restaurant revitalization loan grants from the SBA.