Carroll County Chamber Of Commerce : SBA Announces Restaurant Revitalization Fund Application & Guidelines

Press release from the Carroll County Chamber of Commerce :

04/22/2021

The SBA Restaurant Revitalization Fund is different and separate
from the Maryland Relief Act of 2021 - Carroll
Restaurant Grant Program. The Carroll County program is currently
accepting applications from qualified restaurants, caterers and beverage
providers until Friday, April 30th at 4:00pm.

Click below to apply!

Carroll
Restaurant Grant Program

SBA
U.S. Small Business Adminsgtration

SBA Announces Restaurant Revitalization Fund Application
& Guidelines

U.S. Small Business Administration’s (SBA) Administrator
Isabella Casillas Guzman announced key details on application requirements, eligibility,
and a program guide for the Restaurant Revitalization Fund (RFF). The food
service industry is among the hardest-hit during the COVID-19 pandemic economic
downturn. The American Rescue Plan, signed into law by President Joe Biden,
established the $28.6 billion RRF to be administered by the SBA.

“Our message is this; ‘Help is here.’” said Administrator
Guzman. “We’re prioritizing funding to the hardest-hit small businesses –
irreplaceable gathering places in our neighborhoods and communities in need of
a lifeline. Thanks to clear directives from Congress, we’re rolling out this
program to ensure these businesses can meet payroll, purchase supplies, and get
what they need in place to transition to today’s COVID-restricted marketplace.”

Administrator Guzman emphasized, “We’re also focused on
ensuring the RRF application process is streamlined and free of burdensome,
bureaucratic hurdles, while maintaining robust oversight. Under my leadership,
the SBA will be as entrepreneurial as the entrepreneurs we serve – meeting
every small business where they are, and giving them the support, they need to
recover, rebuild and thrive.”

Ahead of the launch and over the next two weeks, the SBA
will establish a seven-day pilot period, ahead of the public launch, to conduct
outreach and training. Participants will be randomly selected and will not
receive funds until the application portal is open to the public – to be
announced at a later date. For the first 21 days the program is open, the SBA
will prioritize reviewing applications from women, veterans and socially and
economically disadvantaged business owners. Afterward, all eligible applicants
are encouraged to apply.

“These guidelines were crafted by the SBA after
conversations with independent restaurant and bar operators across the
country,” said Erika Polmar, Executive Director of the Independent Restaurant
Coalition. “We are grateful to the SBA for their hard work to make this process
as accessible as possible in a short period of time. It is clear the SBA and
the Biden Administration care deeply about ensuring businesses struggling the
most can quickly and effectively use this relief program.”

In addition to restaurant groups and leading advocacy groups
for underserved business communities, the SBA has engaged national and state
trade associations, and other small business stakeholders in recent weeks to
understand their concerns about relief programs. At all levels, the SBA
continues to engage with stakeholder communities to inform and design delivery
of financial assistance programs.

As the SBA builds and prepares to roll out the program, this
dedicated SBA
website is the best source for up-to-date information for eligible
restaurants interested in the RRF. Under this announcement, details on
application requirements, eligibility, and a program guide are now available in
English at www.sba.gov/restaurants, and
in Spanish at www.sba.gov/restaurantes.

# # #

SBA
RRF Website

About the U.S. Small Business Administration:

The U.S. Small Business Administration makes the American
dream of business ownership a reality. As the only go-to resource and voice for
small businesses backed by the strength of the federal government, the SBA
empowers entrepreneurs and small business owners with the resources and support
they need to start, grow or expand their businesses, or recover from a declared
disaster. It delivers services through an extensive network of SBA field
offices and partnerships with public and private organizations. To learn more,
visit www.sba.gov.

The SBA Restaurant Revitalization Fund is different and separate
from the Maryland Relief Act of 2021 - Carroll
Restaurant Grant Program. The Carroll County program is currently
accepting applications from qualified restaurants, caterers and beverage
providers until Friday, April 30th at 4:00pm.

Maryland Relief Act of 2021 - Carroll
Restaurant Grant Program. Friday, April 30th at 4:00pm.