RESTAURANT REVITALIZATION FUND OPENS MONDAY, MAY 3
The U.S. Small Business Administration will begin registrations on Friday, April 30, at 8 a.m., and open applications on Monday, May 3, at 11 a.m.
The online application will remain open to any eligible establishment until all funds of $28.6 billion are exhausted.
SBA recommends qualifying applicants prepare by: Registering for an account at restaurants.sba.gov starting on Friday at 8 a.m. Reviewing the official guidance, including program guide, frequently asked questions and application sample: https://www.sba.gov/restaurants
Preparing the required documentation: https://www.sba.gov/restaurants
Working with a point-of-sale vendor or visiting restaurants.sba.gov to submit an application when the application portal opens. (Note: If an applicant is working with a point-of-sale vendor, they do not need to register beforehand on the site.)
For the first 21 days that the program is open, SBA will prioritize funding applications from businesses owned and controlled by women, veterans, and socially and economically disadvantaged individuals.
All eligible applicants are encouraged to submit applications as soon as the portal opens.
Following the 21 days, all eligible applications will be funded on a first-come, first-served basis.
Learn more about the #RestaurantRevitalizationFund: https://www.sba.gov/restaurants
SHUTTERED VENUE OPERATORS GRANT PORTAL HAS REOPENED
The Shuttered Venue Operators Grant application portal has reopened. Here’s what you need to know: Use the checklist to make sure you have everything you need to complete your application: https://www.sba.gov/…/support-shuttered-venue-operators…
Review the applicant user guide: https://www.sba.gov/…/support-shuttered-venue-operators…
Review the frequently asked questions: https://www.sba.gov/…/support-faq-regarding-shuttered…
Keep the checklist, user guide and frequently asked questions open throughout the application process. For technical assistance such as a password reset, browser suggestions, or how to use the multi-factor authentication with an app and the QR code, applicants can call 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing) and follow the prompts to SVOG assistance.
The call center is now open 24 hours a day, 7 days a week.
Learn more about the program: https://www.sba.gov/svogrant
ANNOUNCEMENTS MADE CONCERNING ECONOMIC INJURY DISASTER LOAN PROGRAM Supplemental Targeted Advances
The SBA has launched a new round of Economic Injury Disaster Loan assistance — called Supplemental Targeted Advances — that will provide $5 billion in additional assistance to one million small businesses and nonprofits that have been most severely impacted by the pandemic. SBA will contact eligible business owners who can apply. To qualify for the Supplemental Targeted Advance, an eligible business must be in a low-income community, suffered greater than 50% economic loss and have 10 or fewer employees. For more details about the Targeted EIDL Advance and Supplemental Target Advance program, go to https://www.sba.gov/eidl.
You can also email questions about the SBA Targeted EIDL Advance and Supplemental Targeted Advance to [email protected].
Declined Targeted EIDL Advances Eligible for Reconsideration
Applicants can send a request for reevaluation of a Targeted EIDL Advance application that was declined.
Applicants should follow these instructions when requesting a reevaluation:
Send an email to [email protected]
Use the subject line “Reevaluation Request for [insert your 10-digit application number]” In the body of the email, include identifying information for the application such as application number, business name, business address, business owner name(s) and phone number Important: Include an explanation and any documentation that addresses the reason for the decline, if available. SBA will contact applicants if additional documentation is required to complete the review.
PPP EXTENDED DEADLINE FAST APPROACHING The extended deadline for the Paycheck Protection Program is May 31.
Apply now for a first or second draw loan. For more information, visit https://www.sba.gov/ppp
STILL NEED HELP DETERMINING YOUR ELIGIBILITY?
The chart below outlines different program opportunities.
Oklahoma Small Business Development Centers 580.745.2877
Oklahoma Small Business Development Centers
Change is Inevitable –Progress is Optional
Larry Mitchell, City Manager