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A $28.6 billion SBA fund opening with priorities for women, veteran business owners

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Posted at 5:48 PM, Apr 27, 2021
and last updated 2021-04-27 19:48:28-04

BOISE, Idaho — Good news for small-business owners needing financial assistance.

The U.S Small Business Association announced a $28.6 billion "Restaurant Revitalization Fund" with prioritization directed toward women, veterans, and socially and economically disadvantaged individuals for the first 21 days. SBA will also set aside $9.5 billion for smaller businesses.

The SBA recommends anyone considering applying for the fund to "familiarize themselves with the application process":

  • Registering for an account in advance at restaurants.sba.gov starting Friday, April 30, 2021, at 9 a.m. EDT.
  • Reviewing the official guidance, including program guide, frequently asked questions, and application sample.
  • Preparing the required documentation. Working with a point-of-sale vendor or visiting restaurants.sba.gov to submit an application when the application portal opens.
  • Attending a live recorded virtual training webinar

Registration begins 9 a.m. EDT April 30, 2021 and applications open at noon EDT May 3. Online applications will remain open to any eligible establishment until the funds run out.

For more information, visit sba.gov/restaurants or in Spanish at sba.gov/restaurantes