SBA News: Restaurant Revitalization Fund and Targeted EIDL Advance Updates

Wisconsin District Office--April 19, 2021

u s small business administration

Restaurant Revitalization Fund

3 Things to Know about the Restaurant Revitalization Fund (RRF)

1. Get the program details.

Get the program details such as eligibility, funding amount, allowable use of funds and more. If you haven’t already, sign up for RRF email updates.

All info about RRF


2. How to prepare.

Currently, SBA is not accepting applications for RRF. However, you can prepare your application by reviewing the sample application, program guide and cross-program eligibility chart on SBA COVID-19 relief options. You will be able to apply through SBA-recognized Point of Sale Restaurant Partners or directly via SBA in a forthcoming online application portal. Registration with SAM.gov is not required. DUNS or CAGE identifiers are also not required.

Prepare now


3. When to apply.

The official application launch date will be announced shortly. Ahead of the application launch and over the next two weeks, the SBA will establish a seven-day pilot period for the RRF application portal and conduct extensive outreach and training on how to apply, application requirements and where to apply. Participants in this pilot will be randomly selected from existing PPP borrowers in priority groups for RRF and will not receive funds until the application portal is open to the public.  

Following the pilot, the application portal will be opened to the public. For the first 21 days that the program is open, the SBA will prioritize reviewing applications from small businesses owned by women, veterans, and socially and economically disadvantaged individuals. Following the 21-day period, all eligible applicants are encouraged to submit applications. 

Learn more 

 

Watch for SBA Wisconsin's announcement of RRF webinars coming soon! 


EIDL Advance

Update on the Targeted EIDL Advance

Effective immediately, applicants can send a request for reevaluation of a Targeted EIDL Advance application that was declined to the following email address: TargetedAdvanceReevaluation@sba.gov.

Applicants should follow these instructions when requesting a reevaluation:

  • Send an email to TargetedAdvanceReevaluation@sba.gov
  • 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.

Reminder: Surety Bonding Info Session Wednesday

 

Surety bonds help small businesses win contracts by providing the customer with a guarantee that the work will be completed. Many public and private contracts require surety bonds, which are offered by surety companies.

The SBA guarantees surety bonds for certain surety companies, which allows the companies to offer surety bonds to small businesses that might not meet the criteria for other sureties.

Get your bonding questions answered and get prepared for future projects as the economy recovers. Join SBA's Office of Surety Guarantees and the Wisconsin Procurement Institute on Wednesday! 

 Learning about the SBA's Surety Bonding Program

 

 Wednesday, April 21

12-1 pm

Register


Stay Up to Date

Follow us on Twitter at @SBA_Wisconsin and visit us online at www.sba.gov.

The best sources of accurate information on SBA relief programs are www.sba.gov/relief and www.sba.gov/asistencia in Spanish. Coronavirus relief information is also available in 17 languages here

For Economic Injury Disaster Loans, which are available through Dec. 31, 2021, visit www.sba.gov/disaster.

To contact the SBA Wisconsin office, email wisconsin@sba.gov.