SBA COVID-19 Relief Options
Learn about relief options from the SBA including current programs, FAQs, and cross-program eligibility here
IRS COVID-19 Tax Relief Options
Find information and resources about IRS COVID-19 tax relief options and economic impact payments here
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. Click here for application details and to see if you're eligible.
Shuttered Venue Operators Grant
The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. The program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance. Eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees. Click here for application details and to see if you're eligible.
Supplemental Targeted Advance
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. Click here for more details.
Employee Retention Tax Credit
MCCD would like our community contacts, partners, and clients to be aware of new legislation effective January 1, 2021 that enables eligible employers to claim the Employee Retention Tax Credit through June 30, 2021. In summary, employers that received a Paycheck Protection Program (PPP) loan in 2020 were previously barred from taking advantage of the Employee Retention Tax Credit (ERTC), a refundable credit against applicable employment taxes for qualified wages paid. The Consolidated Appropriations Act, passed at the end of 2020, changed this rule, and now employers can retroactively claim the ERTC for 2020 even if they received a PPP Loan, subject to some limitations. The act also extended the ERTC through June 30, 2021 and changed how the credit will work for 2021. MCCD encourages business owners to reach out to their tax professional to learn more about this. Further details available here. To speak with an Open to Business Advisor email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 612-789-7337.
Families First Coronavirus Response Act Tax Credit for Employers
The Families First Coronavirus Response Act (the "FFCRA"), as amended by the COVID-related Tax Relief Act of 2020, provides small and midsize employers refundable tax credits that reimburse them, dollar-for-dollar, for the cost of providing paid sick and family leave wages to their employees for leave related to COVID-19. Click here for information and basic FAQs on FFCRA
1099 Tax Forms
If your business received emergency relief grant funds through the CARES Act, you will receive a 1099 for your 2020 tax reporting. If you have questions related to the 1099 you received, please send an email to This email address is being protected from spambots. You need JavaScript enabled to view it.. We will respond to your questions within 24 hours.