Emergency assistance is available for eligible restaurants, bars, and other similar businesses impacted by COVID-19.
Restaurants and bars have been hard hit by the pandemic. You may qualify for assistance from the U.S. Small Business Administration (SBA) Restaurant Revitalization Fund to keep your business running.
Eligible businesses can receive funding equal to their pandemic-related revenue loss from this SBA program. Businesses can receive up to $10 million per business with a maximum of $5 million per physical location.
You do not need to repay the funds if the funds are used for eligible expenses and are spent by March 11, 2023. Eligible expenses include payroll, business mortgage and rent payments, debt service and utilities.
The SBA’s Minnesota District Office is holding multiple webinars to help qualifying businesses better understand the Restaurant Revitalization Fund.
During the webinars, the SBA will review:
- Eligibility requirements
- Determining the amount you are eligible for
- Other SBA relief programs impact on RRF
- Eligible uses of funds
- And more
Several informational sessions will have a specific business owner focus, but everyone is welcome to attend any of the sessions.
April 26, 2:30 pm – Women focused (with the Women’s Business Alliance and WomenVenture)
April 27, 10 a.m. – General session (hosted by the Minneapolis Regional Chamber with SBDC St Thomas co-presenting)
April 28, 9 a.m. – Application workshop (with the North Central SBDC)
April 28, 2:30 p.m. – Small disadvantaged businesses focused (with NEON and NDC)
April 29, 10 a.m. – Veteran focused (with the Veteran’s Business Outreach Center)
May 3, 4 p.m. – Hmong focused
May 5, 5p.m. – In Spanish/En Español (with the Latino Economic Development Center)
- May 4, 10 a.m.
- May 6, 4 p.m.
- May 10, 4 p.m.