Good news for small-business owners needing financial assistance.
The U.S Small Business Association announced a $28.6 billion “Restaurant Revitalization Fund” with prioritization directed toward women, veterans, and socially and economically disadvantaged individuals for the first 21 days. SBA will also set aside $9.5 billion for smaller businesses.
The SBA recommends anyone considering applying for the fund to “familiarize themselves with the application process”:
- Registering for an account in advance at restaurants.sba.gov starting Friday, April 30, 2021, at 9 a.m. EDT.
- Reviewing the official guidance, including program guide, frequently asked questions, and application sample.
- Preparing the required documentation. Working with a point-of-sale vendor or visiting restaurants.sba.gov to submit an application when the application portal opens.
- Attending a live recorded virtual training webinar
Registration begins 9 a.m. EDT April 30, 2021 and applications open at noon EDT May 3. Online applications will remain open to any eligible establishment until the funds run out.