Yesterday, President Biden signed into law the two-month extension to apply for a Paycheck Protection Program (PPP) loan. As a refresher, the legislation extends PPP through May 31 and allows 501(c)(6) organizations and others more time to pursue a second PPP loan. Further, if eligible organizations apply by May 31, the Small Business Administration will permit lenders an additional 30 days to process and approve any outstanding applications.

The City of Chicago today announced updates to the COVID-19 regulations that keep most indoor limits in place while allowing for cautious increases in outdoor spaces that are less conducive to virus spread. The following outdoor capacity changes will take effect immediately (note that most indoor regulations will remain in place.

Last week, Mayor Lightfoot and Dr. Arwady announced that Chicago will move to Phase 1C of the vaccination distribution on Monday, March 29. Under this phase, all essential workers and Chicagoans age 16-64 with underlying medical conditions will be eligible to receive the COVID-19 vaccine. Chicagoans that are currently eligible under Phase 1A and 1B, including healthcare workers, essential frontline workers, and residents over the age of 65, will still be eligible.

The $28.6 billion Restaurant Revitalization Fund, part of the Biden Administration's $1.9 trillion American Rescue Plan Act, will offer direct grants to restaurants and other qualifying food businesses, offering urgent relief to ailing establishments. The targeted aid comes not a moment too soon — independent restaurant owners across the country have long maintained that grants, versus loans they have to pay back, are crucial to their continued operation. Read on to learn more.

The House gave final approval to the $1.9 trillion coronavirus relief bill on Wednesday, passing it to President Biden's desk for his signature. The colossal package known as the American Rescue Plan allocates money for vaccines, schools, anti-poverty programs, and overdue aid for small businesses.