A New Format For Rapid Response Recovery Program In Riverview

BLOOMINGDALE, RIVERVIEW, FL — The County’s Rapid Response Recovery Program (R3) is being reformatted so that even more businesses can qualify for assistance, a County news release said.

There is still plenty of funding available through the R3 program, the County Board says, but it will pause taking applications at 6 p.m., on Thursday, so that the application portal can be redesigned with its new criteria.

Some of its changes include:

• Increasing awards to up to $40,000 for operational/working capital expenses to provide an immediate infusion of capital to local small businesses with between $40,000 and $20 million in annual revenue.
• Basing awards on the size of the small business, with tiers based on the number of employees.
• Expanding eligibility to businesses established before Jan. 1, 2020.

The program will open phase 4 for applications on August 31, according to the County.

The board said it will release additional information about the new criteria prior to August 31.

How Existing Applications And Awards Are Impacted By Phase 4

• Small businesses who have already been approved and paid will automatically receive a supplemental award equal to the amount they would have received under phase 4 guidelines.
• All applications under review from phases 1-3 will have their award amounts automatically determined based on the more favorable phase 4 scale.
• Applicants who were denied in phases 1-3 but may now qualify under the phase 4 criteria can simply resubmit their existing application after August 31.