SBA announces first-of-its-kind technology initiative for Restaurant Revitalization Fund | Local News Stories

The US Small Business Administration announced on Thursday the first round of technology partners who are participating in a new initiative for the Restaurant Revitalization Fund (RRF) - a program that allows eligible restaurants and other food businesses to access the RRF application or data They must fill out the application through their trusted POS service provider. SBA is proud to announce partnerships with Clover ®, the NCR Corporation, Square and Toast to provide a customer-centric approach to aid delivery.

“The SBA works with point-of-sale providers to use technology to better reach the smallest businesses that need our help most. This collaboration is just one example of the many innovative and creative ways to connect with entrepreneurs in the most affected and underserved communities, ”said SBA Administrator Isabella Casillas Guzman.

Under the leadership of Administrator Guzman, the SBA prioritizes inclusion and equity in its programs as outlined by Congress. As small business owners have been challenged to adapt to the new COVID-19 market, the SBA is doing the same, ensuring an equitable distribution of funds and easier access to disaster relief programs.

"As restaurant vendors prepare to reopen, we are working with the SBA to provide them with the tools and services they need to rebuild," said Bruce Bell, director of Square for Restaurants. "We are honored to be working with SBA on this important initiative as we continue to support our sellers on the challenging journey."

"The restaurant industry has been severely affected by the pandemic and we are excited to work with the SBA to provide our customers with easy access to the Restaurant Revitalization Fund application process and how to navigate it," said Nick DeLeonardis SVP & GM, Payments, Lending and payroll at Toast. Once the SBA announces when applications will be accepted, qualified restaurants can work directly with their POS service providers to help them apply for the RRF. Each point-of-sale partner helps in different ways - from providing a fully integrated application experience to creating ready-made point-of-sale documentation and running interactive webinars. In all cases, these partnerships allow thousands of restaurant owners to expedite their application process.

"By working with the SBA, we are accelerating the application process for the Restaurant Revitalization Fund for restaurants with Clover or Fiserv technology, providing faster access to much-needed capital so they can continue to serve customers and their communities," said Jeff Dickerson , Head of Clover from Fiserv. “We are proud to be doing our part in support of a critical initiative in support of restaurant reopening, with an emphasis on revitalizing women, veteran and minority owned restaurants.

While SBA encourages applicants to take advantage of the POS ecosystem, applicants without access to point-of-sale service providers can submit their applications electronically at restaurant.sba.gov.

Point of sale service providers wishing to participate in this program should send an email to restaurant@sba.gov. A full list of the official point-of-sale service providers is constantly updated and can be found at sba.gov/restaurants.

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