Despite some initial technical glitches with application portals, funds are now available for businesses hit hardest by the COVID-19 pandemic. The Small Business Administration recently launched two new programs to help restaurant and venue operators:
- Restaurant Revitalization Program. Help is here for restaurants and bars devastated by the pandemic. The RRP application portal opened May 3. 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. Following the three-week period, all eligible applicants may submit applications. For more information and to apply, visit the SBA website.
- Shuttered Venue Operators’ Grant (SVOG). More than $16 billion in grants are available to eligible operators of live venues, live performing arts organizations, museums and movie theaters, as well as live venue promoters, theatrical producers and talent representatives. The application portal opened April 26. More information and a link to the portal are available on the SBA website.