The American Rescue Plan Supported Economic Recovery for Businesses in Underserved Communities
Federal pandemic relief funds were not equitably distributed in the beginning of the COVID-19 pandemic. But the American Rescue Plan (ARP) reinvested in business recovery programs and prioritized small businesses, like Regina Monds’, in underserved communities.
Regina started her computer repair tech business right out of college in 2013. She steadily built her business and officially established it as Efficient Tech Solutions in 2020. But that same year, the pandemic halted Regina’s business operations as she navigated the health risks posed by the crisis. With family and community members at high risk for COVID-19, it was necessary to temporarily close her business’ doors even as she lost revenue. But when she heard about the Targeted Economic Injury Disaster Loan (EIDL) Advance and the Supplemental Targeted Advance from the American Rescue Plan, she began the application to support her business’ recovery. After receiving a total of $15,000 from the program, Regina caught up on expenses, purchased updated equipment, and created a professional website. The ARP-funded program helped her business not only survive but also thrive.
We definitely lost money during [COVID-19] just like other businesses, [but] thankfully we did not have to close the business. Since the EIDL, my business now has a professional website, business shirts, and updated equipment that wouldn't have been possible during that time without the EIDL.Regina Monds
The economic support from the ARP stabilized struggling small businesses during the aftermath of the pandemic. Many small-business owners used their funds to grow their businesses, further ensuring a more robust economic recovery.
Read more stories on how recent legislation has benefited Americans
This collection features stories from people in Arizona, Georgia, Nevada, and New Hampshire whose lives have been improved by the legislation passed during the Biden administration’s first two years.