April 23rd Newletter

RRF Funding
April 29, 2021

We are constantly working to provide updates and important news as it develops over social media and by email. This is a recap of some of this week’s highlights.

For more information about the state's response efforts visit ct.gov/coronavirus. To receive text message notifications, sign up for CTAlert, the state’s emergency alert system. To subscribe, text "COVIDCT" to 888-777.

SBA Announces Restaurant Revitalization Fund Application and Guidelines

The Small Business Administration (SBA) has released details on the application and eligibility requirements for the $28.6 billion Restaurant Revitalization Fund (RRF). The funding – included in the American Rescue Plan and run by the SBA – will assist the hardest-hit restaurants with the funds they need to meet payroll, purchase COVID-related supplies, and recover industry jobs lost during the pandemic.

The application requirements, eligibility, and a program guide are now available in English and Spanish.
Restaurant Revitalization Fund details – English
Restaurant Revitalization Fund details – Spanish

Over the next two weeks, the SBA will create a seven-day pilot period for the application portal and conduct outreach and training. Participants in the pilot program will be randomly selected from existing Payroll Protection Program borrowers and will not receive RRF funds until the application portal is open to the public. During the pilot period, the SBA will address technical issues ahead of the public launch.

All eligible businesses are encouraged to apply, but during the first 21 days, priority will be given to businesses owned by women, veterans and socially and economically disadvantaged individuals.

To read the full newsletter, CLICK HERE.