Paycheck Protection Program
Small business assistance and resources.
Restaurant Revitalization Program
SBA’s Revitalization Fund application portal to open on Monday, May 3rd.
The U.S. Small Business Administration (SBA) is awarding funding to restaurants, bars, and similar businesses serving food or drink. The funding comes from the Restaurant Revitalization Program. Its purpose is to support eligible entities that experienced revenue losses due to the COVID-19 pandemic.
Please note that interested applicants should apply directly to the SBA through the SBA’s online application portal: restaurants.sba.gov
The American Rescue Plan
Established under the American Rescue Plan and signed into law on March 11, 2021, the Restaurant Revitalization Fund provides $28.6 billion in relief. It supports restaurants and hard-hit food establishments affected by economic distress and significant operational losses relating to the COVID-19 pandemic. The program will provide restaurants with funding equal to their pandemic-related revenue loss. Each business can receive up to $10 million, and each physical location up to $5 million. Funds must be used for allowable expenses by March 11, 2023.
Additional information can be accessed here.
CARES ACT Paycheck Protection Program
Paycheck Protection Program Resources
The PPP Application Portal is now closed.
As of May 4, 2021. The portal for PPP loans at Dime is closed. Due to program funds being exhausted, Dime is no longer taking applications.
It has been a pleasure to support our customers with the PPP program, and we hope it has provided the much-needed relief during this time. We value our relationship with every client and appreciate your business.
Dime Community Bank is an SBA Preferred Lender.