Here’s how BRACE can help your business:

You’ll learn about and get connected to the spectrum of rapid recovery resources from federal, state and local governments as well as nonprofit organizations and financial institutions as they become available.

Your professional network will expand through your relationship with your BRACE Ambassador, who will help reveal and address any barriers to success, share best practices and help you build relationships with other small businesses.

You’ll receive exclusive access to webinars and programming designed to improve business resiliency by focusing on new tech and tactics, agile leadership training, financial services, talent recruitment and retention.

Get started with BRACE today.

1. Fill out a BRACE form with information on your small- or medium-size business.

2. Once your form is submitted, a BRACE “Ambassador” will reach out to you directly.

3. Your BRACE Ambassador is trained to triage your needs, walk you through available support options and connect your business with the right experts through referrals.

Recovery Resources

Paycheck Protection Program (PPP)

LATEST UPDATE: The Paycheck Protection Program has been exhausted. 

The SBA will continue funding outstanding approved PPP applications, but new qualifying applications will only be funded through Community Financial Institutions, financial lenders who serve underserved communities

A loan available to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. The Small Business Administration (SBA) recommends working with your current bank to find and apply for the most applicable loan programs for your business. The SBA is currently offering first and second draw PPP loans through Community Financial Institutions.

Changes designed to make the PPP program more equitable to underserved small businesses include:
1. Allow sole proprietors, independent contractors, and self-employed individuals to receive more financial support by revising the PPP’s funding formula for these categories of applicants
2. Eliminate an exclusionary restriction on PPP access for small business owners with prior non-fraud felony convictions, consistent with a bipartisan congressional proposal
3. Eliminate PPP access restrictions on small business owners who have struggled to make student loan payments by eliminating student loan debt delinquency as a disqualifier to participating in the PPP
4. Ensure access for non-citizen small business owners who are lawful U.S. residents by clarifying that they may use Individual Taxpayer Identification Number (ITIN) to apply for the PPP

Economic Injury Disaster Loan (EIDL)

A loan designed to provide economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue due to the Coronavirus (COVID-19) crisis.

SUPPLEMENTAL TARGETED ADVANCES

The U.S. Small Business Administration launched a new round of Economic Injury Disaster Loan (EIDL) assistance – called Supplemental Targeted Advances – on April 22, 2021 that will provide $5 billion in additional assistance to 1 million small businesses and nonprofit organizations that have been most severely affected by the economic effects of the COVID-19 pandemic. The Supplemental Targeted Advance program is the latest SBA relief program to launch as part of the American Rescue Plan Act on March 11, 2021.

Effective April 22, the SBA modified the Targeted EIDL Advance application process to determine if businesses also qualify for the additional $5,000 Supplemental Targeted Advance. SBA will contact eligible business entities to apply and applications will be processed on a first-come, first-served basis. To qualify for the Supplemental Targeted Advance, an eligible business entity must be in a low-income community, suffered greater than 50 percent economic loss, and have 10 or fewer employees.

Shuttered Venue Operators Grant

The program includes $15 billion in grants to eligible venues affected by the COVID pandemic.

Eligible entities include:
Live venue operators or promoters
Theatrical producers
Live performing arts organization operators
Relevant museum operators, zoos and aquariums who meet specific criteria
Motion picture theater operators
Talent representatives, and
Each business entity owned by an eligible entity that also meets the eligibility requirements

NEW! RESTAURANT REVITALIZATION FUND

The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.

SBA will accept applications from all eligible applicants, but only process and fund priority group applications in the first 21 days of the program.

During this period, SBA will fund applications where the applicant has self-certified that it meets the eligibility requirements for a small business owned by women, veterans, or socially and economically disadvantaged individuals.

Small Business Administration (SBA) Debt Relief

The SBA is providing a financial reprieve to small businesses during the Coronavirus (COVID-19) crisis.

Other Recovery Resources