As legislators ponder whether to enact another Covid-19 relief package for small businesses, more help from previous initiatives is on the way. Leftover funds from the American Rescue Plan Act, will be put to work through the Small Business Credit Initiative Program (SSBCI). This $10 billion commitment will provide additional capital for businesses in disadvantaged communities, including $500 million for companies with less than 10 employees. The funding will start in the first quarter of 2022.
Source: U.S. Treasury Dept.