U.S. Small Business Administration will begin registrations on Friday, April 30, 2021, at 9 a.m. EDT and open applications on Monday, May 3, 2021, at noon EDT 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:
Call center support: 1-844-279-8898
For the first 21 days that the program is open, the SBA will prioritize funding applications from businesses owned and controlled by women, veterans, and socially and economically disadvantaged individuals. All eligible applicants are encouraged to submit applications as soon as the portal opens. Following the 21 days, all eligible applications will be funded on a first-come, first-served basis.
RCEDC was awarded $3.3 million to establish the ZERO Loan Program.
With ZERO interest for 2 years, ZERO closing fees and ZERO payments for up to 18 months, this program was designed to support Racine County businesses affected by COVID-19.
Great news for City of Racine Opportunity Zone investors, the Internal Revenue Service has released Notice 2021-10 Extension of Relief for Qualified Opportunity Funds and Investors Affected by Ongoing Coronavirus Disease 2019 Pandemic.
This notice addresses investment timelines, extension of 30-month substantial improvement requirement, extension of the 31-month working capital safe harbor, among others.
We encourage all opportunity zone investors to speak with their accountant regarding this extension of relief and contact Will Martin, City of Racine’s opportunity zone specialist at William.Martin@WIDiversified.com or 414-350-4207.
SBA Wisconsin will continue to share emerging details about economic aid being administered by the SBA for small businesses and other eligible organizations.
SBA Wisconsin is providing coronavirus relief information webinars to assist small businesses, nonprofits, and eligible recipients in recovering from the pandemic.
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