Most of the federal COVID relief programs small businesses relied on — PPP, the EIDL loan and advance, the Restaurant Revitalization Fund, and the Shuttered Venue grants — are closed to new applications and have been for years. What remains in 2026 is not new money; it is the aftermath: EIDL loans still in repayment, PPP forgiveness questions, tax records tied to the Employee Retention Credit, and a working-capital gap for owners who never fully recovered. This page explains what each program was, what obligation (if any) still sits on your books, where to look for the narrow help that still exists, and how to bridge cash flow now that forgivable aid is gone — including revenue-based funding that approves on your deposits rather than a government appropriation.
Key takeaways
- The major COVID programs — PPP, EIDL, RRF, and Shuttered Venue Operators Grants — are all closed to new applicants; no general federal pandemic small-business grant is accepting applications in 2026.
- COVID EIDL loans are NOT forgivable (only the early EIDL advance/grant was); the loans carry a fixed low rate over a 30-year term and are still owed and serviced by the SBA.
- PPP loans that were not forgiven convert to repayment; unresolved forgiveness or an SBA loan review can still affect your standing and future SBA eligibility.
- The Employee Retention Credit (ERC) is a payroll-tax credit, not a loan or grant — claims are still being processed and audited by the IRS, so keep all supporting records.
- Missed or defaulted federal COVID loan payments can be reported to Treasury and affect credit and federal contracting eligibility — address hardship options before you go delinquent.
- With forgivable aid gone, most recovery capital today is ordinary private financing: SBA 7(a) loans, lines of credit, or revenue-based/MCA funding underwritten on cash flow.
- Beware 'COVID grant' and 'ERC' solicitations promising guaranteed money — legitimate federal programs are closed and no honest funder guarantees approval.
What COVID relief existed — and its status in 2026
Understanding what you may still owe or still qualify for starts with knowing which program you actually touched. The five that mattered most to small businesses:
- Paycheck Protection Program (PPP): Forgivable loans for payroll and eligible expenses. Status: Closed since May 2021. Loans that met the rules were forgiven; loans that did not convert to repayment at 1% over their term.
- COVID Economic Injury Disaster Loan (EIDL): Low-rate working-capital loans plus an early advance/grant. Status: Application window closed. The loans are not forgivable and remain in repayment; only the separate advance was a grant.
- Restaurant Revitalization Fund (RRF): Grants for food-and-beverage businesses. Status: Closed and fully awarded; no reopening.
- Shuttered Venue Operators Grant (SVOG): Grants for live venues, theaters, and promoters. Status: Closed.
- Employee Retention Credit (ERC): A refundable payroll-tax credit for keeping staff on. Status: The claim period for the relevant quarters has closed, but the IRS is still processing and auditing filed claims and pursuing improper ones.
The practical takeaway: if you are searching for a new COVID grant to apply for, there generally is not one. The live work is managing what these programs left behind and financing recovery through conventional means.
Obligations that may still be on your books
Relief that felt like free money at the time can carry a tail. Check each of these before you assume you are clear:
- Your COVID EIDL balance. These are real loans on long terms. Log into the SBA's servicing portal (MySBA / the capital access system) to confirm your balance, rate, and next payment. Deferments that were granted early have ended.
- Unforgiven PPP. If forgiveness was denied, partially granted, or never filed, the remaining balance is owed to your lender on the loan's schedule.
- SBA loan reviews. Larger PPP and EIDL loans can still be reviewed. Keep your original application, payroll records, and how-you-used-the-funds documentation.
- ERC exposure. If a third party filed an aggressive ERC claim for you, keep every record. The IRS has withdrawal and repayment paths for questionable claims, and interest/penalties attach to improper ones.
Getting ahead of these matters because unresolved federal debt or a flagged loan can block future SBA-backed financing when you actually need it.
What real help still exists
The wide pandemic programs are gone, but a few narrower resources remain useful:
- SBDCs and SCORE: Small Business Development Centers and SCORE mentors offer free advising on debt workouts, forgiveness cleanup, and recovery planning — this is the single most underused free resource.
- SBA loan servicing hardship options: If you cannot make an EIDL payment, the SBA has hardship accommodation options. Request them before you default, not after.
- State and local recovery funds: Some states, counties, and cities still run small recovery or resilience grant cycles — episodic and competitive, but real. Check your state economic-development agency and county.
- Standard SBA lending: SBA 7(a) and Express loans and microloans are open for ongoing needs — these are financing, not relief, but they are often the lowest-cost capital available.
For a full map of non-pandemic options, see our pillar guide on small business loans and our overview of business funding options.
Funding recovery now that forgivable aid is gone
Most owners searching for COVID resources today do not actually need a grant application — they need working capital to cover a slow stretch, rehire, restock, or catch up on obligations. With relief closed, that comes from ordinary private financing, ranked roughly by cost:
- SBA 7(a) / lines of credit: Lowest cost, best for planned needs; slower and credit-and-collateral heavy.
- Bank or online term loans: Mid-range cost and speed for established, bankable businesses.
- Revenue-based financing / MCA marketplace: Fastest and most flexible on credit. Approval is driven by your bank deposits and revenue rather than your FICO, with typical entry around a $10,000 minimum, scores as low as the 500s considered, and funding often in 24–48 hours. Repayment flexes with sales, which fits a still-recovering business — but it is a cash-flow product, so it should fund something that produces return, not a permanent shortfall.
No legitimate funder guarantees approval, and honest ones price for risk. The right question is not 'what's cheapest in the abstract' but 'what can I actually qualify for, fast enough to matter, without straining cash flow.'
Decision framework: which recovery path fits
An SBA or bank loan works best when: you have time (weeks, not days), reasonable credit, and a documented, bankable business — and you want the lowest possible cost of capital for a planned investment.
Revenue-based / MCA funding works best when: your deposits are steady even if your credit isn't; you were declined by a bank; you need funds in a day or two for a time-sensitive opportunity or gap; and the capital funds something that generates revenue (inventory, a big order, a seasonal ramp, catching up to reopen fully).
Avoid revenue-based / MCA funding when: you are borrowing to plug a structural, ongoing loss with no line of sight to recovery; your margins can't absorb a cash-flow-based remittance; you're already carrying stacked advances; or you have time to secure lower-cost capital instead. It is a bridge, not a foundation.
Do not treat any of it as 'COVID relief.' The forgiveness mindset from 2020–2021 is over — every dollar here is repaid.
Example scenarios (illustrative only)
These figures are for example only, to show how the paths compare — your actual terms depend on your revenue, credit, and file.
| Business | Situation | Best-fit path | Why |
|---|---|---|---|
| Neighborhood restaurant | Recovered volume but behind on an old EIDL payment; needs ~$40,000 to restock and rehire before peak season | Revenue-based funding (for example ~$40,000, funded in 24–48h) | Steady daily card deposits, thin credit; needs speed before the season, and remittance flexes with sales |
| Auto repair shop | Bankable, good credit, wants ~$150,000 for equipment; can wait 4–6 weeks | SBA 7(a) term loan | Time and credit allow the lowest cost of capital for a durable asset |
| Boutique retailer | FICO in the 500s, declined by bank, needs ~$15,000 for a time-sensitive inventory buy | Revenue-based / MCA marketplace | Deposits support approval where credit doesn't; funds an inventory buy that produces margin |
| Marketing agency | Unforgiven PPP balance plus a slow quarter, no clear recovery plan | Free SBDC/SCORE advising first — not new debt | Adding cash-flow-based financing to an unresolved shortfall would deepen the hole |
Avoiding COVID-relief and ERC scams
Because so many owners still search for pandemic money, fraud follows the searches. Protect yourself:
- No open federal COVID grant guarantees you money. The big programs are closed; any ad promising a 'COVID grant' you're 'pre-approved' for is a red flag.
- Aggressive ERC promoters: The IRS has repeatedly warned about firms pushing ineligible ERC claims for a large contingency fee. If you didn't qualify, filing anyway invites repayment, penalties, and interest.
- Upfront-fee 'grant' processors: Real government grants never require a fee to apply.
- Verify the source: Confirm program status directly with the SBA and IRS, and get free help from an SBDC or SCORE before paying anyone.
When you do take on financing, work with funders who state terms plainly, never promise 'guaranteed' approval, and underwrite on your actual revenue.
Frequently asked questions
Are there any COVID grants for small businesses still available in 2026?
Not at the federal level in any general sense. PPP, EIDL, the Restaurant Revitalization Fund, and Shuttered Venue grants are all closed. The only live possibilities are occasional state, county, or city recovery grants, which are competitive and episodic — check your state economic-development agency. If an ad guarantees you a COVID grant, treat it as a scam.
Do I have to pay back my COVID EIDL loan?
Yes. The COVID EIDL loan is not forgivable — only the separate early EIDL advance/grant was. The loan carries a low fixed rate over a long term and is serviced by the SBA. Early deferments have ended, so confirm your balance and next payment in the SBA's servicing portal, and request a hardship accommodation before missing a payment if you're struggling.
What happens if my PPP loan wasn't forgiven?
Any portion not forgiven converts to a loan you repay to your lender at 1% over the loan's term. If you never filed for forgiveness, or forgiveness was denied or partial, that balance is owed. Keep your payroll and fund-use records — larger loans can still be reviewed by the SBA, and unresolved status can affect future SBA-backed financing.
Is the Employee Retention Credit still available?
The claim windows for the eligible quarters have closed, but the IRS is still processing previously filed claims and auditing questionable ones. The ERC is a payroll-tax credit, not a loan or grant. If a promoter filed an aggressive claim on your behalf, keep all documentation; the IRS offers withdrawal and repayment paths, and improper claims carry penalties and interest.
I need working capital now — what replaces pandemic relief?
Ordinary private financing. In rough order of cost: SBA 7(a) loans and lines of credit (lowest cost, slower), bank or online term loans (mid-range), and revenue-based/MCA funding (fastest, most credit-flexible). Revenue-based funding approves on your bank deposits and revenue rather than credit, typically starts around $10,000, considers FICO in the 500s, and can fund in 24–48 hours — best for a time-sensitive, revenue-producing need.
Can I still get funding if my credit dropped during the pandemic?
Often yes, through revenue-based or MCA-marketplace funding, because approval is driven by your business's bank deposits and revenue rather than your personal FICO — scores in the 500s are considered. No funder guarantees approval, and terms reflect risk, but consistent deposits can qualify a business that a traditional bank would decline. Use it for something that generates return, not to cover an ongoing loss.
How do I avoid COVID-relief and ERC scams?
Remember that the major federal programs are closed, so no one can 'guarantee' you pandemic money. Never pay an upfront fee to apply for a government grant. Be skeptical of ERC promoters charging large contingency fees to file claims. Verify program status directly with the SBA and IRS, and get free help from an SBDC or SCORE before paying any third party.
Should I take new financing to pay off my COVID loans?
Usually only if it clearly improves your position — for example, consolidating into lower-cost, more manageable payments with a recovery plan behind it. If you'd be borrowing cash-flow-based capital just to cover an ongoing shortfall with no path to recovery, that typically deepens the problem. Talk to a free SBDC or SCORE advisor first; new debt should fund growth or a smarter structure, not paper over a loss.
