SBA released tips for RRF applicants waiting for word on their grant submission. We summarized the information below:
SBA is reviewing and processing priority applications first during the initial 21 days (May 3 to May 24), and then all applications will be reviewed. Applicants under review status should not anticipate any outreach from the SBA during this period.
To make any corrections following submission and before award funding, applicants must revisit the application portal or call the support hotline to submit the correction, new documentation, and initiate a restart of the timeline for review. If an applicant initiates a restart, it may take 14 days from the time of resubmission for SBA to finalize review. The SBA will not allow corrections to awards that have been paid to awardees.
If the submitted application is successful, all applications enter “IRS verification.” No action is needed from applicants for this process, which simply allows the SBA to validate information. The process may take up to seven days.
An additional 4506T form submission is not required after applicant’s sign the application during the e-sign process.
If you are entering a state in the address section(s) use the abbreviation in capital letters (e.g., PA, TX, ME, WA, etc.).
Applicants can submit a message using the platform inbox for help when on the web portal.
Over 186K entities applied in the first 36 hours of RRF!
186,200 restaurants, bars, and other eligible businesses in all 50 states, D.C., and Puerto Rico.
97,600 applications came from restaurants, bars, and other eligible businesses owned and controlled by women (46,400), veterans (4,200), socially and economically disadvantaged individuals (30,800), or some combination of the three (16,200).
61,700 applications came from businesses with under $500,000 in annual pre-pandemic revenue, representing some of the smallest restaurants and bars in America.
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