The SBA’s Iowa District Office will hold two information sessions on it’s new Restaurant Revitalization Fund – one on Thursday, April 22nd at 3:00 p.m. and one on Friday, April 23rd at 1:00 p.m. These will be identical sessions.
The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.
Join the SBA’s Iowa District Office for a basic overview of the RFF program on the following dates and times. Sessions are identical and will be held via Microsoft Teams.
Thursday, April 22nd, 3:00 p.m.- 4:00 p.m. – CLICK HERE to Join the Session at 3:00 p.m.
Friday, April 23rd, 1:00 p.m. – 2:00 p.m. – CLICK HERE to Join the Session at 1:00 p.m.
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Sound issues are usually caused on the audience participant’s end and are often due to bandwidth issues. If you experience sound issues (e.g. no sound or echoing), try closing out of the event and re-entering. Or, refresh the screen by clicking the F5 key. We can’t address sound issues on our end.
You can participate in the event either on a modern web browser such as Chrome, Firefox, or Edge, or you can download a free version of Microsoft Teams. You do not need a Microsoft account. Instructions for accessing and watching the event without a Teams account can be found at Join a meeting without a Teams account – Office Support (microsoft.com).
See Below for More Information on the RFF or go to www.sba.gov/restaurants
3 Things to Know about the Restaurant Revitalization Fund (RRF)
1. Get the program details.
Get the program details such as eligibility, funding amount, allowable use of funds and more. If you haven’t already, sign up for RRF email updates.
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.