Point of Sale Providers to Help Restaurants Apply for RRF Grants
The Small Business Administration is partnering with four restaurant technology vendors to facilitate restaurant applications for federal assistance.
As part of the program, point-of-sale providers Clover, NCR Corp., Square and Toast will work directly with restaurants to help them apply for $ 28.6 billion Restaurant Revitalization Fund (RRF) grants. .
The initiative aims to “meet small businesses where they are located,” said SBA Administrator Isabella Casillas Guzman in a statement and could help speed up the application process for thousands of restaurateurs.
The SBA has yet to say when this process will begin. But when it does, qualifying restaurants can work with their point-of-sale providers to apply. Some will offer a full application experience, while others will host interactive webinars or provide the necessary data and documentation.
The RRF, which was created by Congress to help restaurants affected by the pandemic, will grant up to $ 5 million per restaurant or $ 10 million per multi-unit operation. On Monday, the SBA released a application example and said he plans to test the submission process over the next two weeks.
The unprecedented program is expected to generate a high volume of applications, and the agency has encouraged restaurants to apply through their point-of-sale providers if possible. Restaurants that do not have access to this resource can still request assistance from restaurants.sba.gov.
The SBA also hopes to add other point-of-sale providers to the program. Those interested should send an email to [email protected]