1. GET THE PROGRAM DETAILS.
2. HOW TO PREPARE.
Currently, SBA is not accepting applications for RRF. However, you can prepare your application by reviewing the sample application, program guide and cross-program eligibility chart on SBA COVID-19 relief options. You will be able to apply through SBA-recognized Point of Sale Restaurant Partners or directly via SBA in a forthcoming online application portal. Registration with SAM.gov is not required. DUNS or CAGE identifiers are also not required.
3. WHEN TO APPLY.
The official application launch date will be announced shortly. Ahead of the application launch and over the next two weeks, the SBA will establish a seven-day pilot period for the RRF application portal and conduct extensive outreach and training on how to apply, application requirements and where to apply. Participants in this pilot will be randomly selected from existing PPP borrowers in priority groups for RRF and will not receive funds until the application portal is open to the public.
Following the pilot, the application portal will be opened to the public. For the first 21 days that the program is open, the SBA will prioritize reviewing applications from small businesses owned by women, veterans, and socially and economically disadvantaged individuals. Following the 21-day period, all eligible applicants are encouraged to submit applications.
Depending on when your establishment opened, you may be eligible to receive funding equal to the difference between your 2019 revenue and 2020 revenue, minus any PPP funds. For restaurants that opened after 2019, you’ll still be able to make an application. If this sounds like an avenue you should explore, join the SBA Seattle district staff for one of their live webinars this week on April 26, 28 or 30. Each one-hour webinar will cover the following:
- What is the Restaurant Revitalization Fund
- Who is eligible to apply
- How much money you can get
- How funds can be used
- How and when to apply
- Where to get help with your application
SBA staff will answer your questions during the presentation and there will be dedicated Q&A time at the end.
If you are a business owner in Central Oregon and think you are eligible to apply for the Restaurant Revitalization Fund, but don’t get your questions answered at one of the sessions above, business advisers at Central Oregon Community College’s SBDC may be able to help you navigate the criteria for the program. Call 541-383-7290 or email firstname.lastname@example.org for assistance.
You can also find relevant and appropriate information for all stages of an entrepreneurial lifecycle through quality training and informed support at COCC’s SBDC.