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The following is a summarized list of loan and grant programs available to help Utah residents and businesses through the COVID-19 pandemic. For a more comprehensive look into pandemic funding for businesses, please visit Please see for a complete list of municipal, county, state and federal resources to support businesses during the COVID-19 emergency and recovery.  Salt Lake County’s Business Relief Hotline is 385-468-4011.

Paycheck Protection Program (PPP) updates from the White House unveiled

Earlier this week on February 22nd, the White House unveiled reforms to the Paycheck Protection Program (PPP). These reforms aim to further target the PPP to the smallest businesses and those that have been left behind in previous relief efforts, and will:

  • Institute a 14-day period, starting Wednesday (02/24), during which only businesses with fewer than 20 employees can apply for relief through the Program.
  • Revise the loan calculation formula for these applicants so that it offers more relief, and establish a $1 billion set aside for businesses in this category without employees located in low- and moderate-income (LMI) areas.
  • Eliminate an exclusionary restriction that prevents small business owners with prior non-fraud felony convictions from obtaining relief through the Paycheck Protection Program.
  • Eliminate an exclusionary restriction that prevents small business owners who are delinquent on their federal student loans from obtaining relief through the Paycheck Protection Program.
  • Ensure access for non-citizen small business owners who are lawful U.S. residents by clarifying that they may use Individual Taxpayer Identification Numbers (ITINs) to apply for relief.

For more information, see the full announcement from the White House.

En Espańol: “Biden impulsa ayudas a los negocios más pequeños o dirigidos por inmigrantes”

Emergency Rental Assistance Program

Expanded Employee Retention Credit

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Employers Can Now Claim Newly-Extended Employee Retention COVID Tax Credit

“How the Expanded Employee Retention Credit Will Save Small Businesses” – February 2021…/how-the-expanded…
Some of the early inefficacy of the CARES Act’s attempt to save small businesses resulted from an attempt to prevent double-dipping. Initially, companies that received a Paycheck Protection Program (PPP) loan were ineligible for an Employee Retention Credit (ERC), forcing many business owners into an either/or dilemma. The Consolidated Appropriations Act 2021 rectified this by repealing this provision; PPP loans and ERCs are no longer mutually exclusive. This change is effective retroactive to the CARES Act original date, March 12, 2020. Eligible businesses that received a PPP loan in 2020 can claim the credit retroactively.
The new Employee Retention Credit has a higher potential payout; the initial program provided a credit of up to $5,000 per qualifying employee. Since Jan. 1, 2021, the cap increased to $7,000 per qualifying employee for the first two quarters of 2021. Small businesses that hit the $5,000 cap during 2020 are still eligible for the increased cap in 2021.
The CARES Act failed to provide the ERC to businesses as an advance before they paid their wages; the credit would often come too late to make a difference. In the coming weeks, the IRS is expected to draft guidelines on providing credit advances to qualifying businesses with 500 or fewer employees.
For 2021, the ERC eligibility requirements have been loosened to accommodate more businesses. For 2020, eligibility extended only to businesses experiencing a reduction in income of at least 50% compared to the same quarter in 2019. The expanded program now only requires an income reduction of 20% compared to the same quarter in 2020. Also, the original ERC was only available to businesses with no more than 100 active, non-furloughed workers in 2020. As of Jan. 1, 2021, the threshold stands at 500 workers.
En Espańol: “Crédito extendido y ampliado por retención de empleados”…/

Paycheck Protection Program 2.0 (Second Round) Opening

  • The Paycheck Protection Program is a cornerstone of aid offered to provide small business loans on favorable terms to borrowers impacted by the current state of economic uncertainty. Specifically, the program is designed to help small businesses keep their workforce employed. The PPP will be reopened for a second round with a fresh $284 billion in available funding. “First Draw” borrowers can apply now and “Second Draw” borrowers can apply starting on Wednesday, January 13th. PPP 2.0 changes rules for existing PPP loans, for new PPP loans, and PPP second draws in terms of eligibility, allowable expenses, forgiveness, and more. The reopened program allows for:
    • new PPP loan requests from eligible businesses that didn’t obtain a loan in the initial round: since this new PPP program is actually an amendment to the original, businesses that haven’t previously applied for PPP loans will be subject to the PPP program’s original eligibility rules. The original PPP was generally open to businesses with up to 500 employees, but unlike this second draw offer, there was no requirement to demonstrate a revenue loss.
    • “Second Draw” for eligible businesses that currently have a PPP loan or have had one previously who need additional support: the updated program allows some businesses obtain another PPP loan, called a “PPP second draw.” PPP second draw loans are available to:
      • Companies with fewer than 300 employees who have already used or will use the full amount of money granted to them in their initial round of PPP.
      • Businesses, some nonprofit organizations, self-employed workers and independent contractors.
      • Sole proprietors, independent contractors, and eligible self-employed individuals, and
      • NEW: Certain housing cooperatives, news organizations, section 501(c)(6) organizations, and Economic Injury Disaster Loan (EIDL) recipients

Who can:

  • Show at least a 25% reduction in gross receipts in the first, second or third quarter of 2020 compared to the same quarter in 2019.
    • PPP 2.0 will run through March 31st

Where To Get Help

Your Existing Bank

If you have an existing banking relationship, check with that bank to see if they are participating in the Paycheck Protection Program.  If so, they can help you understand the program and get an application started as soon as possible.

 Utah SBA Office

Business owners and nonprofit organizations should subscribe to the SBA Utah District Office newsletter and follow them on Twitter to receive the latest information on the new programs. The Utah SBA office will provide real-time updates and information. You may also contact the Utah District Office at (801) 524-3209 or by email at

Rapid Response Team

If you need assistance to understand and apply for a PPP or Disaster Loan, you can reach out to Utah’s COVID-19 Rapid Response Team. The team is trained to provide assistance to business owners, including sole proprietors and independent contractors, as they prepare for and navigate the new PPP application process. They can also provide referrals for professional services that can assist companies as they prepare their financials for a loan. Contact the Rapid Response Team by filling out this form in English or Spanish.

Utah Bankers Association

Applications for PPP support are available through corporate bankers. If you’re a nonprofit or small business and you don’t work with a company banker, you could reach out to your personal banker to see what assistance their bank can provide.

The Utah Bankers Association website provides resources and links to banks participating in the new PPP assistance program.

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