COVID-19 has wrecked small businesses across the country, but there is hope. The Small Business Administration, Administrator Isabel Guzman announced the SBA will begin accepting Restaurant Revitalization Fund registrations on Friday at 9am ET and will open applications on Monday, May 3 at 12pm ET. The online application will remain open to any eligible establishment until all funds are exhausted, according to State Representative Dora Drake. Checkout the detailed steps down below to apply.
SBA recommends qualifying applicants prepare by:
Registering for an account at restaurants.sba.gov starting on Friday at 9am ET
Reviewing the official guidance, including program guide, frequently asked questions, and application sample:https://www.sba.gov/restaurants
Preparing the required documentation:https://www.sba.gov/restaurants
Working with a point-of-sale vendor or visiting restaurants.sba.gov to submit an application when the application portal opens. [Note: If an applicant is working with a point-of-sale vendor, they do not need to register beforehand on the site.]
For the first 21 days that the program is open, SBA will prioritize funding applications from businesses owned and controlled by women, veterans, and socially and economically disadvantaged individuals.
All eligible applicants are encouraged to submit applications as soon as the portal opens. Following the 21 days, all eligible applications will be funded on a first-come, first-served basis.
Photo Credit: Facebook - Dora Drake