SBA

The Restaurant Revitalization Fund Is Here

| Zeb Wright

The online applications opens Monday, May 3rd, and will remain open until all funds are depleted.

The SBA will begin registrations on Friday at 9 a.m. eastern and will open online applications for the $28.6 billion Restaurant Revitalization Fund Monday afternoon.

There are three ways to apply to the Restaurant Revitalization Fund. The first option is to apply through a recognized “SBA Restaurant Partner.”  The other two options are to submit applications electronically at https://restaurants.sba.gov/ or apply via phone at 844.279.8898.

To prepare, the SBA recommends that eligible restaurants familiarize themselves with the application process to ensure a smoother experience. Here are some steps the SBA recommends:

  • Registering for an account in advance at restaurants.sba.gov starting Friday, at 9 a.m. EST.

  • 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.

Take the time now to visit the SBA’s official page to get information about the documentation you’ll need to provide and a sample application.

Kingswood - Your Commercial Capital Source

Kingswood helps all types of businesses grow with finance solutions. If you sell equipment, buy equipment, or need working capital to grow your business, then we invite you to experience the Kingswood advantage and gain access to the trusted source for your commercial capital needs. Learn more about how Kingswood can help your business at www.kingswoodleasing.com.

Small Business Administration Disaster Loans

Image | | Sandy Michaud

COVID-19 Relief Programs

Helping Our Customers, Now More Than Ever

Kingswood is here to help your business survive this unprecedented time. Our team has identified 4 types of programs that most affected businesses will qualify for. Your company should evaluate all four areas below:

Paycheck Protection Program

  • 100% Forgiveness available
  • Get 2.5x your monthly payroll (10 wks), up to $10MM
  • Use it for payroll and other bills like rent and utilities
  • Small businesses with 500 or fewer employees are eligible
  • No personal guarantee or collateral needed

Economic Injury Disaster Loan and Advance

  • Apply through the Small Business Administration website
  • Business owners economically impacted by the pandemic can apply for and receive working capital loans of up to $2 million
  • Terms up to 30 years
  • Term loans or lines of credit
  • Uses: To overcome the temporary loss of revenue
  • Applicants can request a $10,000 advance after with application

State & Local Relief Programs

States, localities, and communities of people have stepped up alongside our federal government to offer relief where they know the need is great. Grants and special term loans from $1,000 up to $200,000 are available to keep business owners going – until they can start growing again.

  • Find the information you need about your state’s programs.
  • Connect directly with your state and local funding programs.
  • We are continually working to update this page with the best information available so please check back often for changes.

Additional Aid Programs

The federal government has additional relief programs that can help business owners get through the economic impact of the global pandemic. Learn what is available and make sure your recovery plan has every benefit you can qualify for:

IRS Tax Extension for special payment relief: The Treasury Department and IRS are providing special tax filing and payment relief to individuals and businesses in response to the COVID-19 Outbreak.

SBA Express Bridge Loans: Businesses who currently have a business relationship with an SBA Express Lender are able to access up to $25,000 quickly.

SBA Debt Relief: The SBA is providing financial reprieve to small businesses during the COVID-19 pandemic by paying principal, interest, and fees on some business debt.

We're In This Together

We’re all in this together, and Kingswood is here to help you succeed as a business. We are here to help you work through today’s challenges and access the funding you need to help you get through and move forward.

If you are a current Kingswood customer, speak with a team member to learn more about assistance programs you may qualify for.

Call 888-327-8121 or email info@kingswoodleasing.com

We extend our fullest well wishes for the health and safety of you, your employees, and your family.