Restaurants and other eligible small businesses can now apply for improved economic injury disaster loans (EIDL) from the U.S. Small Business Administration (SBA). The COVID-19 EIDL program is designed to help small businesses access working capital with favorable repayment terms. New improvements include:

- Enhanced loan amounts up to $2 million, allowing businesses to reapply for more funds.
- Expanded use of funds, including pre-payment of commercial and/or credit card debt.
- Improved eligibility rules for affiliated businesses that mirror the Paycheck Protection Program.

Speakers

Aaron Frazier
Director of Healthcare and Tax Policy
National Restaurant Association

Patrick Kelley
Associate Administrator, Office of Capital Access
SBA

Mr. Kelley has been selected to serve as Associate Administrator for the Office of Capital Access (OCA) at the U.S. Small Business Administration.In this role, Mr. Kelley leads the OCA, which helps make capital available, through banks and other lending partners, to small businesses that would not be able to access credit conventionally.

Previously Mr. Kelley served as the Executive Vice President for Channel Partnerships at Live Oak Bank, Kelley was part of the Bank’s Corporate Strategy and Development team. Under his leadership, Live Oak Bank originated over $500 million in small business and asset-based loans to US federal Government Contractors including 8(a), HUBZone, Women-Owned, and SDVOSB small businesses.Prior to joining Live Oak Bank, Mr. Kelley previously held the positions of Deputy Chief of Staff, Deputy Associate Administrator and Senior Advisor for the U.S. Small Business Administration (SBA) where he oversaw the agency’s $100 billion loan portfolio and the small business government contractor set aside programs.

Prior to joining the SBA, Kelley worked at the U.S. Department of Commerce providing guidance to the Under Secretary of the United States Patent and Trademark Office. Mr. Kelley is a graduate of Colgate University and Boston College Law School.

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Webinar: More Flexibility and Funds: New SBA Loan Options for Restaurants