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The U.S. Small Business Administration will be offering emergency assistance funding through the Restaurant Revitalization Fund. This program is intended for restaurants, bars, and other qualifying businesses impacted by COVID-19. The program will provide eligible businesses with funding equal to their pandemic-related revenue loss. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023. Information about the program and how to apply can be found at: https://www.sba.gov/funding-programs/loans/covid-19-relief-options/restaurant-revitalization-fund#section-header-1
Registration for the Small Business Application portal will begin on Friday, April 30th at 9:00 am ET. Applications will open on Monday, May 3rd at noon ET. Applications will be open until the program runs out of funding. During the first 21 days of the program, the Small Business Administration will accept applications from all eligible applicants, but will only process and fund priority group applications. Prior groups include small businesses owned by women, veterans, or socially and economically disadvantaged individuals. After Day 21 of the program, applications from all eligible applicants will be accepted and processed in the order in which they were approved by the SBA.
Representative Angie Craig is hosting a webinar about the Restaurant Revitalization Fund. She will be joined by Brian McDonald and Sarah Carroll of the Small Business Association. The webinar is on April 29th at 6:00 pm CT. The webinar can be found at Facebook.com/RepAngieCraig