Jerry Miller | Business Retention and Expansion Specialist, Idaho Commerce
Hi All –
One of the elements of the recently passed American Rescue Plan is the Restaurant Revitalization Fund. This program will be administered by the U.S. Small Business Association. The program is open to restaurants, food stands, food trucks, food carts, caterers, saloons, inns, taverns, bars, lounges, brewpubs, tasting rooms, taprooms, licensed facilities or a premise of a beverage alcohol producer where the public may taste, sample, or purchase products, or other similar businesses where the public or patrons assemble for the primary purpose of being served food or drink. This also includes the same types of establishments located in an airport terminal or that are Tribally-owned. Any business owned or operated (together or with an affiliate business) with more than 20 locations—regardless of whether those locations do business under the same name or different names are not eligible, Any business that has a pending grant application or has received a grant under section 324 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, Venues Act, are not eligible. And, publicly-traded companies are not eligible. Here is an article outlining the program. As of this morning there is no word from our partners at SBA as to when the program will be open for applications. In the interim there are a few things qualified businesses can do now to be ready to apply.
- Obtain a DUNS Number – https://www.dnb.com/duns-number.html
- Create a free SAM.gov account – https://sam.gov/SAM/
- Get their 2019 and 2020 tax and financial information ready to go.
Businesses with questions regarding DUNS and SAM should contact their nearest Idaho Small Business Development Center Office or the Idaho Procurement Technical Assistance Center.
