UPDATE 4/29/21: This story has been updated to include that the SBA has added tech supplier SpotOn to help restaurants apply for RRF aid.
UPDATE 4/27/21: This story has been updated to reflect that the SBA will begin accepting applications for RRF aid on Monday, May 3.
The Small Business Administration is partnering with restaurant technology suppliers to make it easier for restaurants to apply for federal aid.
Under the program, POS providers Clover, NCR Corp., Square, Toast and SpotOn will work directly with restaurants to help them apply for grants from the $28.6 billion Restaurant Revitalization Fund (RRF).
The initiative is intended to "meet small businesses where they are," said SBA Administrator Isabella Casillas Guzman in a statement, and could help speed the application process for thousands of restaurant owners.
The SBA will begin accepting applications on Monday, May 3. Eligible restaurants can work with their POS 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 impacted by the pandemic, will grant up to $5 million per restaurant or $10 million per multi-unit operation. On Monday, the SBA released a sample application and said it planned to test the submission process over the next two weeks.
The unprecedented program is expected to yield a high volume of applications, and the agency encouraged restaurants to apply through their POS providers if possible. Restaurants that don't have access to that resource can still apply for aid at restaurants.sba.gov.
The SBA is also hoping to add more POS providers to the program. Those interested should email restaurants@sba.gov.
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