- April 28, 2021
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U.S. SBA Economic Injury Disaster Loan (EIDL)
In response to the Coronavirus (COVID-19) pandemic, small business owners, including agricultural businesses, and nonprofit organizations in all U.S. states, Washington D.C., and territories can apply for an Economic Injury Disaster Loan. The EIDL program is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue due to coronavirus (COVID-19).
On March 24, 2021, SBA announced that starting the week of April 6, 2021, the SBA is raising the loan limit for the COVID-19 EIDL program from 6-months of economic injury with a maximum loan amount of $150,000 to up to 24-months of economic injury with a maximum loan amount of $500,000.
Contact us for information about eligibility, loan program details, and how to apply. EIDL Deadline: December 31, 2021
Restaurant Relief Fund
One of the hardest-hit industries during the COVID-19 pandemic has been restaurants, with shutdowns and restrictions cutting off revenue opportunities. The newly passed American Rescue Plan Act (ARPA) aims to help restaurants, bars and related businesses with a new grant program called the Restaurant Revitalization Fund (RRF).
The RRF will offer $28.6 billion in grants to hard-hit restaurants and bars, with restaurants able to apply for grants based on lost revenue. Additionally, $5 billion of that total will be set aside expressly for businesses with 2019 gross receipts of less than $500,000.
The ARPA explicitly names the following types of establishments that should be eligible: "restaurant, food stand, food truck, food cart, caterer, saloon, inn, tavern, bar, lounge, brewpub, tasting room, taproom, licensed facility or premise of a beverage alcohol producer where the public may taste, sample, or purchase products."
Florida SBDC at FIU's business finance experts assist small business owners with all aspects of business finance. Our highly experienced consultants can assist with access to capital - whether in the form of business loans or equity investments; calculating financial projections; determining the amount of capital required to fuel growth; financial management, business valuations and more.Learn more
With the Florida SBDC at FIU, small-business owners can have access to research and databases that normally only big businesses can afford. Our team of experts helps Miami-Dade business owners design growth strategies, analyze domestic and international markets, obtain government contracts, develop competitive analysis, as well as provide other services that allow businesses to identify and capitalize on their competitive advantages.Learn more
Operations / Management
From consulting on human resources issues to ensuring that business owners are using the most productive processes and procedures, the business experts at the Florida SBDC at FIU advise business owners to help them streamline operations and assist in decisions that impact the overall management and operation of the business.Learn more