TERRE HAUTE, Ind. (WTHI) - A window is opening for establishments to apply for money to aid in the pandemic recovery process and the West Central Indiana Small Business Development Center is urging local owners to act quickly.
The Regional Director of the West Central Indiana Small Business Development Center, Courtney Chipol, says funding is available for businesses that had losses during the pandemic, as well as businesses that launched during the pandemic. Chipol tells News 10 there's a wider expense eligibility list than what has been allowed with previous recovery funds. The money can be used through March of 2023.
She says many local establishments will be eligible, but there may be a challenge for establishments that received previous recovery help because that money will be factored back in. Chipol says this could be especially helpful for businesses that didn't apply for other funds and businesses that have recently opened.
"Those people that got started in March or May, not knowing what was going on, they haven't qualified for a lot of the recovery programs, but they do qualify for this. So, I think that's the area here in our community that we're trying to help," said Chipol.
On Monday at noon, the Small Business Administration will start accepting applications for the Restaurant Revitalization Fund. Awards will be given from $1,000 to $5 million.
Registration for the portal is open now. Chipol says restaurant owners who may be interested in applying should sign up for a username and password this weekend. A sample application and document list are available now.
According to the Small Business Administration, eligible entities who have experienced pandemic-related revenue loss include:
- Food stands, food trucks, food carts
- Bars, saloons, lounges, taverns
- Snack and nonalcoholic beverage bars
- Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
- Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
- Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
- Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
- Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
- Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products
The West Central Indiana Small Business Development Center is available to answer questions from local establishments owners and help them determine eligibility.
The center will have appointments available next week and can be contacted at
(812) 237-7676. The center also hosted a webinar on Friday that's now viewable through Facebook.
Restaurant owners interested in applying can see more information online.