TTU’s NWTSBDC: Restaurant Revitalization Fund now accepting applications

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(Photo provided by Texas Tech University’s Northwest Texas Small Business Development Center)

LUBBOCK, Texas (NEWS RELEASE) — The following is a news release from Texas Tech University:

Texas Tech University’s Northwest Texas Small Business Development Center (NWTSBDC) is available to provide information and assistance for the Restaurant Revitalization Fund (RRF), a new disaster assistance fund from the U.S. Small Business Administration (SBA).

The fund was established as part of the American Rescue Plan to provide funding to restaurants and other qualifying businesses impacted by COVID-19. Recipients are not required to repay the funding as long as funds meet eligible use requirements no later than March 11, 2023. Applications can be submitted starting today (May 3).

“Eligible entities include restaurants, food trucks, caterers, bars, saloons, lounges and taverns,” said Randy Burch, associate executive director of the NWTSBDC. “There are several additional groups – including bakeries, breweries and/or microbreweries and inns – that may or may not be eligible. Our staff can determine who qualifies to apply. We have consultants who have been trained by the SBA to help someone through the entire application process.”

To learn more about all the benefits of the NWTSBDC, including more information on the RRF, call (806) 745-3973, email nwtsbdc@ttu.edu or visit the NWTSBDC website.

About the Small Business Development Centers America’s nationwide network of Small Business Development Centers (SBDCs) is the most comprehensive small business assistance network in the U.S. and its territories. SBDCs are hosted by leading universities, colleges, state economic development agencies and private partners and funded in part by the U.S. Congress through a partnership with the U.S. Small Business Administration.

There are nearly 1,000 local centers available to provide no-cost business consulting and low-cost training to new and existing businesses.

The NWTSBDC has six centers located throughout the 95-county area housed with universities: Texas Tech University-Lubbock, Texas Tech University-Abilene, West Texas A&M University-Amarillo, University of Texas-Permian Basin-Midland/Odessa, Midwestern State University-Wichita Falls and Tarleton State University-Stephenville.

Small business owners and aspiring entrepreneurs can contact their local SBDC for no-cost, confidential business consulting and low-cost training on a variety of topics. Learn more about how SBDCs are helping local businesses start, grow and thrive at http://www.nwtsbdc.org.

(News release from Texas Tech University)

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