The Greater Owensboro Chamber of Commerce will host a webinar Thursday to discuss how to apply to the Restaurant Revitalization Fund, which provides emergency funding assistance to help small businesses deal with revenue loss from the pandemic.
The webinar will be at 10 a.m. and be conducted by Jamie Johnson, Business Coach with the Kentucky Small Business Development Center. To join via Zoom, visit chamber.owensboro.com to complete a registration form. Registrants will be emailed an access link and instructions.
According to the latest statistics, small businesses in Kentucky employ almost 60% of those who work in the Food Service and Accommodation Industry. The American Rescue Plan established the Restaurant Revitalization Fund (RRF) to provide emergency funding assistance for eligible businesses that are not permanently closed.
Eligible establishments include anywhere the public or patrons assemble for the primary purpose of being served food or drink, including restaurants, bars, distilleries, breweries, food trucks and more. It will provide funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.
“As vaccinations continue, so many of our businesses are able to be reopened. But we know that many in the food service and hospitality industry especially are still struggling to keep their doors open,” said Candance Castlen Brake, Chamber President and CEO. “We are fortunate to have resources like Jamie Johnson and the Small Business Development Center located right here in Owensboro who can help businesses apply for these funds — funds that might make a difference in keeping their doors open.”
The RRF online application opened on Monday. For the first 21 days that the program is open, the SBA will prioritize funding applications from businesses owned and controlled by women, veterans, and socially and economically disadvantaged individuals. Following the 21 days, all eligible applications will be funded on a first-come, first-served basis.
All eligible applicants are encouraged to submit applications as soon as they are eligible. Application resources are available locally through the Kentucky Small Business Development Center, located upstairs from the Chamber office at 200 East Third Street, Suite 302. Contact Johnson at email@example.com or (270) 574-9990.
The SBA is also hosting informational sessions to help prepare applicants for this new grant fund.
Visit sbarestaurantstraining.eventbrite.com and sba.gov/events to find a full schedule of virtual training sessions. Visit sba.gov/restaurants to learn more about eligibility and application guidelines.