Business COVID-19 Relief

Business Help:

The following links provide good sources of information for California businesses during this time:

 

The Application is open Wednesday, April 28th at 9:00 AM through Tuesday, May 4th at 5:00 PM. Notifications will begin Friday, May 7th

 If you have not already applied for the California Relief Grant, now is the time to get your documents ready.

 If you have already applied and have been waitlisted in rounds 1, 2, 3, 4, or 5, You Do Not Have To reApply! Round 6 includes current waitlisted small businesses and/or nonprofits not selected in Rounds 1, 2, 3, 4, or 5 and new applicants that meet eligibility criteria.

Valley Sierra SBDC is here to help you navigate what documents you will need and keep you updated on changing grant/loan information. We are not however involved in the selection process. 

Restaurant Revitalization Fund (RRF)

The Restaurant Revitalization Fund is a $28.6 billion appropriation established to provide tax-free federal grants to restaurants, bars, brewpubs, caterers, taverns, and inns that suffered huge losses during the pandemic. We will inform you when the fund is expected to open, as of now there has been no date announced. 

___________________________________________________________________________________________________

Valley Sierra SBDC

Restaurant Revitalization Fund


The Restaurant Revitalization Fund is a $28.6 billion appropriation established to provide tax-free federal grants to restaurants, bars, brewpubs, caterers, taverns, and inns that suffered huge losses during the pandemic. The grants may be used to cover eligible expenses already incurred back to February 2020, and other additional expenses for the remainder of 2021 or even longer, if the SBA extends the covered period.

Application Opens Monday, May 3rd 


Registration Opens Friday, April 30th

Applications open on Monday, May 3, 2021, at 9 AM (PT) for the Restaurant Revitalization Fund. The online application will remain open to any eligible establishment until all funds are exhausted.


In preparation, the SBA recommends qualifying applicants familiarize themselves with the application process in advance to ensure a smooth and efficient application experience, specifically by:

  • Registering for an account in advance at restaurants.sba.gov starting Friday, April 30, 2021, at 6 a.m. P.T.
  • Reviewing the official guidance, including program guide, frequently asked questions, and application sample.
  • Preparing the required documentation.
  • Working with a point-of-sale vendor or visiting restaurants.sba.gov to submit an application when the application portal opens. [Note: If an applicant is working with a point-of-sale vendor, they do not need to register beforehand on the site.]
  • Attending a live recorded virtual training webinar.
  • Wednesday, April 28 | 1 p.m. EDT | Register here 
  • Wednesday, April 28 | 2:30 p.m. EDT | Register here 

More Information


Need Assistance?

Valley Sierra SBDC is here to help you navigate what documents you will need and keep you updated on changing grant/loan information. We are not however involved in the selection process

Get Connected to an Advisor for Assistance!

Current Clients

 

Email info@valleysierrasbdc.com to connect with your Consultant. 

Non-Clients

 

To become a client, visit ucmsbdc.ecenterdirect.com/signup 

Required Documents

(1) For all Applicants, the following documentation is required:

  • The application: SBA Form 3172, completed, initialed, and signed. Completion of this form digitally on the SBA Platform will satisfy this requirement.
  • Verification for Tax Information: IRS Form 4506-T, completed and signed by Applicant.
  • Completion of this form digitally on the SBA Platform will satisfy this requirement.
  • Gross Receipts Documentation: Any of the following documents demonstrating gross receipts and, if applicable, eligible expenses:
  • Business tax returns (IRS Form 1120 or IRS Form 1120-S);
  • IRS Form1040 Schedule C; IRS Form 1040 Schedule F;
  • For a partnership: partnerships IRS Form 1065 (including K-1s);
  • Bank statements;
  • Externally or internally prepared financial statements such as Income Statements or Profit and Loss Statements;
  • Point of sale report(s), including IRS Form 1099-K.

(2)For Applicants that are a brewpub, tasting room, taproom, brewery, winery, distillery, or bakery: In addition to the documents above (1), documents evidencing that onsite sales to the public comprise at least 33% of gross receipts for 2019. These may include 2019 Tax and Trade Bureau (TTB) Forms filed, state or local government forms filed, or internally created reports from inventory management, sales reporting, or accounting software.

 (3)For Applicants that are an Inn: In addition to the documents in (1) above, documents evidencing that onsite sales of food and beverage to the public comprise at least 33% of gross receipts for 2019. These may include internally created revenue reports or accounting reports.

Grants

An eligible business may receive a tax-free federal grant equal to the

amount of its pandemic-related revenue loss, calculated by subtracting

its 2020 gross receipts from its 2019 gross receipts.

  • If the business is not in operation for the entirety of 2019, the total is the difference between 12 times the average monthly gross receipts for 2019 and the average monthly gross receipts in 2020 (or a formula from SBA).
  • If the business is not in operation until 2020, it can receive a grant equal to the amount of “eligible expenses” subtracted by its gross receipts received (or a formula from SBA).
  • If the business is not yet in operation as of the application date, but it has made “eligible expenses,” the grant would be made equal to those expenses (or a formula from SBA).


Distribution

The SBA can adjust awards based on demand and “relative local costs”

in the markets where RRF businesses operate. Otherwise;

  • $23.6 billion is available for the SBA to award in an equitable manner to businesses of different sizes based on annual gross receipts.
  • $5 billion is available to businesses with gross receipts of $500,000 or less during 2019.
  • Maximum: The total grant amount for an eligible business and any affiliated businesses is capped at $10 million and is limited to $5 million per physical location of the business


The Valley Sierra Small Business Development Center is funded in part through a subcontract between Opportunity Stanislaus and the University of California, Merced under the current cooperative agreement with the U.S. Small Business Administration. Reasonable accommodations for persons with Disabilities will be made if requested at least two weeks in advance. Contact Info@ValleySierraSBDC.com

"Funded in part through a Grant with the Governor's Office of Business and Economic Development."

Valley Sierra SBDC

Hosted By Opportunity Stanislaus

1625 I Street Modesto, Ca

209.422.6416