11 May Restaurant Revitalization Funds Available for Restaurants and Bars
The Small Business Administration, in conjunction with the National Restaurant Association are promoting new funding for the restaurant/bar sector.
The Restaurant Revitalization Fund is a program that targets relief to restaurants and bars adversely impacted by Covid-19. To qualify, a place of business has to be primarily a restaurant or bar. Venues where food or beverages are incidental to the primary mission will not qualify. The Small Business Administration has details of the program on the their website. The SBA also has a document explaining the program available as a download. Click Here to access that document.
You can apply through SBA-recognized Point of Sale (POS) vendors or directly with the SBA. Participating POS providers include Square, Toast, Clover, NCR Corporation (Aloha). If you are working with Square or Toast, you do not need to register on the SBA application portal.
The application portal: https://restaurants.sba.gov went live Monday, May 3. There is a 21-day priority period for some applications. Even if you do not qualify for the 21-day priority period, you should submit your grant application as early as possible.
For more information, you can access the National Restaurant Association’s website at www.restaurant.org. You can also access their frequently asked questions page by clicking this link.
This information is provided with the understanding that Payroll Partners is not rendering legal, human resources, or other professional advice or service. Professional advice on specific issues should be sought from a lawyer, HR consultant or other professional.