The US Small Business Administration has released details on application requirements, eligibility and a program guide for a pool of federal money designated to help restaurants and bars recover from the COVID-19 pandemic.
According to South Dakota SBA director Jaime Wood, thousands of South Dakota restaurants and bars may be eligible for some of the $28.6 billion in the Restaurant Revitalization Fund. She says the monies can be used for economic recovery and for preparing for the high-traffic SD tourism season ahead.
Over the next two weeks, the SBA will establish a pilot period for the RRF application portal and conduct extensive outreach and training. The pilot period will be used to address technical issues ahead of the public launch. The official application launch date will be announced at a later date.
For the first 21 days the program is open, the SBA will prioritize reviewing applications from small businesses owned by women veterans, and socially and economically disadvantaged individuals.
Details on application requirements, eligibility and a program guide are available in English at www.sba.gov/restaurants or in Spanish at www.sba.gov/restaurantes.
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