City of Fayetteville offers advice on US bailout
The Town of Fayetteville is compiling information on each of the new programs and assistance programs already in place.
FAYETTEVILLE, Ark. – The US bailout, which was enacted last week, includes several programs to help individuals, families and small businesses that have been affected by the COVID-19 pandemic.
To help businesses and individuals navigate these resources, the Town of Fayetteville has compiled information on each of the new programs and assistance programs already in place, on the Town’s website at http://www.fayetteville-ar.gov/covidbusiness. This information will be updated daily as more details about the program become available.
In addition to the economic stimulus payments, which are already being distributed, the law offers grants for restaurant revitalization, additional funding for grants for closed site operators, expanded children’s tax credits and a return from the program. unemployment assistance in the event of a pandemic, among other programs.
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Several of these programs have priority periods for women-owned and veteran-owned businesses and socially and economically disadvantaged businesses.
Among the new resources in the US bailout, the Restaurant Revitalization Grant program will be open for applications in the coming weeks. Eligible businesses must have been open by February 15, 2020. The funds can be used for a wide range of operational expenses.
The Shuttered Venue Operators Grants program is scheduled to open in early April. This program was designed for live theater operators, theater producers, museum operators and cinemas that were in operation on February 29, 2020.
Fayetteville businesses are reminded that the current paycheck protection program will expire at the end of March.
“While I am optimistic that Congress will expand this program, I would like to encourage any business that is considering a first or second draw for the Paycheck Protection Program to do so as soon as possible,” said Devin Howland. , director of economic vitality for the Town of Fayetteville. “New requests must be submitted to your lender no later than March 22, 2021.”
Additional information and advice regarding these programs and additional resources for businesses and individuals affected by the pandemic is available online at www.fayetteville-ar.gov/covidbusiness. These pages are updated as more information becomes available.
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