SBA Announces First-of-Its-Kind Technology Initiative for Restaurant Revitalization Fund
The U.S. Small Business Administration announced the first round of technology partners participating in a new initiative for the Restaurant Revitalization Fund (RRF) - a program that will allow eligible restaurants and other food establishments to access the RRF application or data they need to fill out the application through their trusted point-of-sale (POS) service providers. SBA is proud to announce partnerships with Clover ®, NCR Corporation, Square, and Toast in this groundbreaking effort to provide a customer-centric approach to the delivery of relief funds.
The SBA is prioritizing inclusion and equity in its programs as outlined by Congress. As small business entrepreneurs have been asked to pivot and adapt to the new COVID-19 marketplace, the SBA is doing the same and ensuring it provides equitable distribution of funds and easier access to disaster relief programs.
Once the SBA announces when applications will be accepted, qualifying restaurants will be able to work directly with their point-of-sale service providers to help them apply for the RRF. Each point-of-sale partner is helping in different ways - from providing a fully integrated application experience, to building pre-packaged point-of-sale documentation, to holding interactive webinars. In all cases, these partnerships allow for thousands of restaurant owners to accelerate their application submission process.
While SBA encourages applicants to use the POS ecosystem, applicants without access to point-of-sale service providers can submit their applications electronically at restaurants.sba.gov.
SBA is in ongoing conversations with other interested parties to continue to widely and equitably deliver an experience that is centered around who it is serving – owners of restaurants, bars, breweries, bakeries, etc. Point-of-sale service providers who are interested in participating in this program should email restaurants@sba.gov. A full list of official point-of-sale service providers will be continually updated and can be found at www.sba.gov/restaurants.
CDP Staff are available to help you through this process. Contact pam@capecdp.org.